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

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

Several other equities research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a report on Wednesday, October 8th. Needham & Company LLC cut their price objective on shares of Red Cat from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Finally, Wall Street Zen downgraded shares of Red Cat from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $14.00.

Red Cat Stock Up 12.0%

NASDAQ RCAT opened at $8.05 on Thursday. The firm has a market cap of $960.94 million, a P/E ratio of -18.30 and a beta of 1.48. Red Cat has a 52-week low of $4.58 and a 52-week high of $16.70. The business’s 50-day moving average price is $9.08 and its 200 day moving average price is $9.23.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The business had revenue of $9.65 million during the quarter, compared to the consensus estimate of $8.18 million. As a group, analysts anticipate that Red Cat will post -0.5 earnings per share for the current year.

Insider Buying and Selling

In other Red Cat news, Director Christopher R. Moe sold 10,000 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $10.91, for a total value of $109,100.00. Following the completion of the sale, the director owned 53,073 shares of the company’s stock, valued at approximately $579,026.43. This trade represents a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.30% of the company’s stock.

Hedge Funds Weigh In On Red Cat

A number of large investors have recently made changes to their positions in RCAT. Bank of America Corp DE boosted its holdings in Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock worth $44,000 after buying an additional 2,727 shares in the last quarter. Invesco Ltd. increased its holdings in Red Cat by 309.8% in the first quarter. Invesco Ltd. now owns 96,134 shares of the company’s stock valued at $565,000 after buying an additional 72,678 shares in the last quarter. Apis Capital Advisors LLC lifted its position in shares of Red Cat by 4.9% during the 1st quarter. Apis Capital Advisors LLC now owns 682,000 shares of the company’s stock valued at $4,010,000 after acquiring an additional 32,000 shares during the period. Royal Bank of Canada boosted its stake in shares of Red Cat by 76.4% during the 1st quarter. Royal Bank of Canada now owns 57,800 shares of the company’s stock worth $340,000 after acquiring an additional 25,031 shares in the last quarter. Finally, GW Henssler & Associates Ltd. purchased a new stake in shares of Red Cat during the 1st quarter worth approximately $1,297,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

About Red Cat

Red Cat Holdings, Inc (NASDAQ: RCAT) is a technology holding company that develops and delivers advanced robotics, autonomy, and sensing solutions for defense, national security, public safety and commercial customers. Headquartered in American Fork, Utah, the company brings together a portfolio of specialized operating businesses focused on unmanned aerial systems (UAS), mission management software, precision mapping sensors and engineering services.

Through its UAS segment, Red Cat designs and manufactures small to medium-sized fixed-wing and vertical-takeoff drones that support intelligence, surveillance and reconnaissance (ISR) missions.