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

LADENBURG THALM/SH SH upgraded shares of Red Cat (NASDAQ:RCAT) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Red Cat from a “hold” rating to a “sell” rating in a report on Saturday. Needham & Company LLC initiated coverage on shares of Red Cat in a report on Friday. They set a “buy” rating and a $17.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a report on Saturday, September 27th. Finally, Northland Securities set a $16.00 price objective on shares of Red Cat in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $16.50.

Red Cat Stock Performance

Shares of Red Cat stock opened at $12.89 on Thursday. The company has a market capitalization of $1.52 billion, a PE ratio of -23.87 and a beta of 1.45. The company has a 50-day simple moving average of $9.64 and a two-hundred day simple moving average of $7.85. Red Cat has a one year low of $2.66 and a one year high of $15.27.

Insider Activity at Red Cat

In other news, Director Christopher R. Moe sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $10.91, for a total transaction of $109,100.00. Following the sale, the director owned 53,073 shares of the company’s stock, valued at $579,026.43. This trade represents a 15.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 86,833 shares of company stock worth $861,560. 15.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Red Cat

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Marex Group plc acquired a new stake in shares of Red Cat during the 2nd quarter worth approximately $333,000. Captrust Financial Advisors grew its stake in shares of Red Cat by 30.9% during the 2nd quarter. Captrust Financial Advisors now owns 820,279 shares of the company’s stock worth $5,972,000 after purchasing an additional 193,853 shares during the period. Tidal Investments LLC grew its stake in shares of Red Cat by 64.1% during the 2nd quarter. Tidal Investments LLC now owns 34,916 shares of the company’s stock worth $254,000 after purchasing an additional 13,643 shares during the period. Riggs Asset Managment Co. Inc. acquired a new stake in shares of Red Cat during the 2nd quarter worth approximately $62,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Red Cat during the 2nd quarter worth approximately $262,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

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.