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 recommendation of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $20.50.

A number of equities research analysts have commented on RCAT shares. LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a research report on Wednesday, May 6th. HC Wainwright assumed coverage on Red Cat in a research report on Wednesday. They set a “buy” rating and a $20.00 target price on the stock. UBS Group assumed coverage on Red Cat in a research report on Wednesday. They set a “buy” rating on the stock. Needham & Company LLC upped their target price on Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Finally, Clear Str raised Red Cat to a “strong-buy” rating in a research report on Wednesday, April 29th.

Red Cat Trading Up 3.8%

NASDAQ RCAT opened at $9.77 on Wednesday. The business’s 50-day moving average price is $12.15 and its two-hundred day moving average price is $11.35. Red Cat has a 12 month low of $5.71 and a 12 month high of $18.78. The firm has a market capitalization of $1.20 billion, a PE ratio of -13.96 and a beta of 1.21.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). Red Cat had a negative net margin of 138.36% and a negative return on equity of 35.86%. The company had revenue of $15.47 million during the quarter, compared to the consensus estimate of $17.63 million. The company’s revenue was up 849.1% on a year-over-year basis. As a group, analysts forecast that Red Cat will post -0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Red Cat

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp acquired a new position in shares of Red Cat during the first quarter worth approximately $33,000. IFP Advisors Inc raised its stake 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 worth $28,000 after purchasing an additional 1,720 shares during the last quarter. NFSG Corp raised its stake in shares of Red Cat by 200.0% in the first quarter. NFSG Corp now owns 3,000 shares of the company’s stock worth $39,000 after purchasing an additional 2,000 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Red Cat by 294.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the company’s stock worth $40,000 after purchasing an additional 2,271 shares during the last quarter. Finally, Montag A & Associates Inc. raised its stake in shares of Red Cat by 552.0% in the third quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock worth $34,000 after purchasing an additional 2,760 shares during the last quarter. 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.