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

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) have been given an average recommendation of “Buy” by the seven research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $21.40.

Several brokerages have weighed in on RCAT. UBS Group assumed coverage on shares of Red Cat in a report on Wednesday, May 27th. They set a “buy” rating on the stock. Wall Street Zen cut shares of Red Cat from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Roth Capital started coverage on Red Cat in a report on Monday, June 1st. They set a “buy” rating and a $25.00 price target on the stock. Clear Str raised shares of Red Cat to a “strong-buy” rating in a report on Wednesday, April 29th. Finally, HC Wainwright started coverage on Red Cat in a research report on Wednesday, May 27th. They issued a “buy” rating and a $20.00 target price on the stock.

Insider Buying and Selling

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

Institutional Investors Weigh In On Red Cat

A number of large investors have recently modified their holdings of the business. IFP Advisors Inc increased its holdings in shares of Red Cat by 181.1% in the third 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 purchased a new stake in Red Cat in the first quarter valued at approximately $33,000. California State Teachers Retirement System purchased a new stake in Red Cat in the second quarter valued at approximately $34,000. NFSG Corp increased its holdings in 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 buying an additional 2,000 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Red Cat by 294.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the company’s stock worth $40,000 after buying an additional 2,271 shares during the period. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Red Cat Stock Performance

NASDAQ:RCAT opened at $7.83 on Thursday. The stock has a 50-day simple moving average of $10.42 and a two-hundred day simple moving average of $12.16. The firm has a market capitalization of $961.05 million, a PE ratio of -11.19 and a beta of 1.29. Red Cat has a 52-week low of $5.77 and a 52-week high of $18.78.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). The company had revenue of $15.47 million for the quarter, compared to analysts’ expectations of $17.63 million. Red Cat had a negative net margin of 138.36% and a negative return on equity of 35.86%. The firm’s quarterly revenue was up 849.1% on a year-over-year basis. Equities analysts forecast that Red Cat will post -0.67 earnings per share for the current fiscal year.

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.