Red Cat Holdings, Inc. (NASDAQ:RCAT) Given Average Rating of “Buy” by Analysts

Red Cat Holdings, Inc. (NASDAQ:RCAT) has earned an average recommendation of “Buy” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $16.50.

Several equities analysts have recently issued reports on the company. LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a report on Thursday, October 2nd. Northland Securities set a $16.00 price objective on Red Cat in a research report on Friday, August 15th. Needham & Company LLC began coverage on Red Cat in a research note on Friday, October 3rd. They issued a “buy” rating and a $17.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Red Cat from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th.

Insider Buying and Selling at Red Cat

In other news, Director Christopher R. Moe sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $10.11, for a total transaction of $303,300.00. Following the completion of the sale, the director owned 73,073 shares in the company, valued at $738,768.03. This trade represents a 29.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 86,833 shares of company stock worth $861,560. 15.30% of the stock is owned by corporate insiders.

Institutional Trading of Red Cat

Several hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in shares of Red Cat by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 266,099 shares of the company’s stock valued at $1,565,000 after buying an additional 59,334 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in Red Cat during the 2nd quarter valued at $202,000. Integrated Wealth Concepts LLC lifted its position in shares of Red Cat by 66.0% during the first quarter. Integrated Wealth Concepts LLC now owns 195,225 shares of the company’s stock worth $1,148,000 after acquiring an additional 77,630 shares in the last quarter. Truist Financial Corp bought a new position in shares of Red Cat in the second quarter worth $167,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Red Cat in the second quarter valued at $180,000. 37.97% of the stock is currently owned by institutional investors.

Red Cat Stock Performance

Shares of RCAT stock opened at $9.48 on Wednesday. Red Cat has a 52-week low of $3.17 and a 52-week high of $16.70. The company has a 50-day simple moving average of $11.03 and a two-hundred day simple moving average of $8.85. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -20.61 and a beta of 1.45.

Red Cat Company Profile

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.