Red Cat (NASDAQ:RCAT) Raised to “Strong-Buy” at LADENBURG THALM/SH SH

Red Cat (NASDAQ:RCAT) was upgraded by LADENBURG THALM/SH SH to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Red Cat from a “hold” rating to a “sell” rating in a research note on Saturday. Needham & Company LLC started coverage on Red Cat in a research note on Friday. They issued a “buy” rating and a $17.00 target price on the stock. Northland Securities set a $16.00 target price on Red Cat in a research note on Friday, August 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $16.50.

Red Cat Stock Performance

NASDAQ RCAT opened at $12.89 on Thursday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -23.87 and a beta of 1.45. The stock’s 50 day moving average price is $9.64 and its two-hundred day moving average price is $7.85. Red Cat has a 52 week low of $2.66 and a 52 week high of $15.27.

Insider Buying and Selling at Red Cat

In other Red Cat news, Director Christopher R. Moe sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $10.11, for a total transaction of $303,300.00. Following the transaction, the director owned 73,073 shares of the company’s stock, valued at $738,768.03. The trade was a 29.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 86,833 shares of company stock worth $861,560. 15.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RCAT. Bank of America Corp DE increased its position in shares of Red Cat by 407.0% during the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock worth $44,000 after purchasing an additional 2,727 shares during the last quarter. Millennium Management LLC increased its position in shares of Red Cat by 44.1% during the 4th quarter. Millennium Management LLC now owns 60,864 shares of the company’s stock worth $782,000 after purchasing an additional 18,641 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Red Cat by 23.0% during the 4th quarter. Squarepoint Ops LLC now owns 15,496 shares of the company’s stock worth $199,000 after acquiring an additional 2,902 shares during the last quarter. Western Wealth Management LLC raised its stake in Red Cat by 18.1% in the 1st quarter. Western Wealth Management LLC now owns 23,500 shares of the company’s stock valued at $138,000 after acquiring an additional 3,600 shares during the period. Finally, Summit Trail Advisors LLC acquired a new stake in Red Cat during the 1st quarter valued at $59,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

About Red Cat

Red Cat Holdings, Inc engages in the provision of various products, services, and solutions to the drone industry. The company operates through two segments: Enterprise and Consumer. It built infrastructure to manages drone fleets and fly, and provide services remotely, navigate confined industrial interior spaces and dangerous military environment.