Red Cat (NASDAQ:RCAT) Rating Increased to Strong-Buy at Clear Str

Red Cat (NASDAQ:RCAT) was upgraded by research analysts at Clear Str to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Northland Securities set a $22.00 price target on Red Cat in a report on Tuesday, January 20th. Wall Street Zen raised Red Cat from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Needham & Company LLC raised their price target on Red Cat from $16.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a report on Tuesday, April 21st. Finally, LADENBURG THALM/SH SH raised their price objective on Red Cat from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Red Cat presently has an average rating of “Moderate Buy” and an average price target of $20.67.

Red Cat Stock Up 5.9%

NASDAQ:RCAT opened at $11.72 on Wednesday. The business’s 50-day moving average price is $13.53 and its two-hundred day moving average price is $11.55. Red Cat has a twelve month low of $5.03 and a twelve month high of $18.78. The stock has a market cap of $1.42 billion, a P/E ratio of -15.63 and a beta of 1.46.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Wednesday, March 18th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Red Cat had a negative net margin of 176.96% and a negative return on equity of 38.86%. The business had revenue of $26.24 million during the quarter, compared to analysts’ expectations of $24.50 million. On average, equities research analysts expect that Red Cat will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Cat

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its position in Red Cat by 136.4% during the 4th quarter. State Street Corp now owns 6,612,153 shares of the company’s stock worth $52,434,000 after acquiring an additional 3,815,310 shares during the last quarter. Vanguard Group Inc. grew its position in Red Cat by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 6,000,037 shares of the company’s stock worth $47,580,000 after acquiring an additional 493,660 shares during the last quarter. Geode Capital Management LLC grew its position in Red Cat by 13.4% during the 4th quarter. Geode Capital Management LLC now owns 2,520,524 shares of the company’s stock worth $19,991,000 after acquiring an additional 297,967 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in Red Cat during the 3rd quarter worth approximately $19,739,000. Finally, Davidson Kempner Capital Management LP bought a new position in Red Cat during the 3rd quarter worth approximately $17,286,000. 37.97% of the stock is currently owned by institutional investors.

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.