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

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) have been given a consensus rating of “Buy” by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $21.40.

RCAT has been the subject of a number of recent research reports. Roth Capital assumed coverage on Red Cat in a research note on Monday, June 1st. They set a “buy” rating and a $25.00 price objective for the company. Clear Str raised shares of Red Cat to a “strong-buy” rating in a report on Wednesday, April 29th. Wall Street Zen raised Red Cat from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. LADENBURG THALM/SH SH upgraded shares of Red Cat to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, HC Wainwright began coverage on Red Cat in a research note on Wednesday, May 27th. They issued a “buy” rating and a $20.00 price objective on the stock.

Insider Activity at Red Cat

In other news, Director Paul Funk II sold 165,028 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was 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 SEC, which can be accessed through this hyperlink. 12.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Red Cat

Several hedge funds have recently modified their holdings of RCAT. State Street Corp lifted its stake in Red Cat by 136.4% in the 4th quarter. State Street Corp now owns 6,612,153 shares of the company’s stock worth $52,434,000 after purchasing an additional 3,815,310 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Red Cat by 43.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,506,377 shares of the company’s stock valued at $56,991,000 after purchasing an additional 1,680,929 shares during the last quarter. Davidson Kempner Capital Management LP bought a new stake in Red Cat in the third quarter worth $17,286,000. Renaissance Technologies LLC bought a new stake in shares of Red Cat in the 1st quarter worth about $18,533,000. Finally, CenterBook Partners LP lifted its stake in Red Cat by 1,872.4% in the fourth quarter. CenterBook Partners LP now owns 1,105,132 shares of the company’s stock worth $8,764,000 after purchasing an additional 1,049,101 shares during the last quarter. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Red Cat Stock Performance

Shares of NASDAQ:RCAT opened at $8.24 on Thursday. The stock has a 50 day moving average price of $10.67 and a 200-day moving average price of $12.16. The firm has a market capitalization of $1.01 billion, a P/E ratio of -11.77 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 announced its 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 business had revenue of $15.47 million for the quarter, compared to the consensus estimate of $17.63 million. The business’s revenue was up 849.1% on a year-over-year basis. On average, equities analysts forecast that Red Cat will post -0.67 EPS 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.