Red Cat (NASDAQ:RCAT) Given Buy Rating at HC Wainwright

Red Cat (NASDAQ:RCAT)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $20.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 130.68% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Red Cat from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Clear Str upgraded Red Cat to a “strong-buy” rating in a report on Wednesday, April 29th. LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a research report on Wednesday, May 6th. UBS Group assumed coverage on Red Cat in a research report on Wednesday, May 27th. They set a “buy” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Red Cat presently has an average rating of “Buy” and a consensus price target of $20.40.

Red Cat Stock Up 0.1%

Shares of Red Cat stock opened at $8.67 on Friday. Red Cat has a 52 week low of $5.77 and a 52 week high of $18.78. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -12.39 and a beta of 1.31. The stock’s 50-day simple moving average is $9.99 and its 200-day simple moving average is $11.85.

Red Cat (NASDAQ:RCAT) last released its earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.05). The company had revenue of $20.20 million for the quarter, compared to the consensus estimate of $22.65 million. Red Cat had a negative net margin of 138.36% and a negative return on equity of 35.86%. On average, equities analysts expect that Red Cat will post -0.68 earnings per share for the current year.

Insider Buying and Selling at Red Cat

In related news, Director Paul Funk II sold 165,028 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $11.50, for a total transaction of $1,897,822.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 12.50% of the stock is owned by company insiders.

Institutional Trading of Red Cat

Several hedge funds have recently modified their holdings of the company. State Street Corp grew its holdings in Red Cat by 136.4% in the fourth 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 during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Red Cat by 43.9% during 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 purchased a new stake in shares of Red Cat during the 3rd quarter valued at $17,286,000. Renaissance Technologies LLC acquired a new stake in shares of Red Cat in the 1st quarter worth $18,533,000. Finally, CenterBook Partners LP boosted its position in shares of Red Cat by 1,872.4% in the 4th 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 in the last quarter. 37.97% of the stock is owned by hedge funds and other 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.