Red Cat Holdings, Inc. (NASDAQ:RCAT) Receives Average Rating of “Buy” from Brokerages

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) have earned a consensus rating of “Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $21.40.

Several research analysts have recently commented on the stock. UBS Group assumed coverage on shares of Red Cat in a report on Wednesday, May 27th. They issued a “buy” rating for the company. HC Wainwright assumed coverage on shares of Red Cat in a report on Wednesday, May 27th. They issued a “buy” rating and a $20.00 price target for the company. Clear Str raised shares of Red Cat to a “strong-buy” rating in a report on Wednesday, April 29th. Needham & Company LLC lifted their price target on shares of Red Cat from $16.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a report on Tuesday, April 21st.

Red Cat Price Performance

Shares of RCAT stock opened at $9.28 on Friday. The firm has a market cap of $1.14 billion, a P/E ratio of -13.26 and a beta of 1.23. Red Cat has a 1-year low of $5.77 and a 1-year high of $18.78. The firm has a fifty day moving average of $11.31 and a two-hundred day moving average of $12.02.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). The business had revenue of $15.47 million during the quarter, compared to analyst estimates of $17.63 million. Red Cat had a negative return on equity of 35.86% and a negative net margin of 138.36%.The firm’s revenue was up 849.1% compared to the same quarter last year. On average, sell-side analysts expect that Red Cat will post -0.68 EPS for the current year.

Insider Transactions at Red Cat

In other Red Cat news, Director Paul Funk II sold 165,028 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $11.50, for a total transaction of $1,897,822.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RCAT. IFP Advisors Inc boosted its stake in Red Cat by 181.1% during the 3rd quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock valued at $28,000 after purchasing an additional 1,720 shares during the period. Fifth Third Bancorp acquired a new position in Red Cat during the 1st quarter valued at about $33,000. Montag A & Associates Inc. boosted its stake in Red Cat by 552.0% during the 3rd quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock valued at $34,000 after purchasing an additional 2,760 shares during the period. California State Teachers Retirement System acquired a new stake in shares of Red Cat in the 2nd quarter worth approximately $34,000. Finally, NFSG Corp lifted its stake in shares of Red Cat by 200.0% in the 1st quarter. NFSG Corp now owns 3,000 shares of the company’s stock worth $39,000 after acquiring an additional 2,000 shares during the period. 37.97% of the stock is owned by institutional investors and hedge funds.

Red Cat Company Profile

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.