Insider Selling: Red Cat (NASDAQ:RCAT) Director Sells 165,028 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Paul Funk II sold 165,028 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $11.50, for a total value of $1,897,822.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Red Cat Trading Up 7.1%

RCAT traded up $0.79 during trading on Monday, reaching $11.97. The stock had a trading volume of 11,055,008 shares, compared to its average volume of 15,361,824. Red Cat Holdings, Inc. has a one year low of $5.77 and a one year high of $18.78. The stock’s 50 day moving average is $11.75 and its two-hundred day moving average is $11.83. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -17.10 and a beta of 1.23.

Red Cat (NASDAQ:RCAT) last released its earnings results on Thursday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $17.63 million. The company’s revenue for the quarter was up 849.1% compared to the same quarter last year. On average, equities research analysts predict that Red Cat Holdings, Inc. will post -0.68 earnings per share for the current year.

Hedge Funds Weigh In On Red Cat

A number of hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in shares of Red Cat during the first quarter valued at $33,000. IFP Advisors Inc boosted its position in shares of Red Cat by 181.1% during the third quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock valued at $28,000 after buying an additional 1,720 shares during the last quarter. NFSG Corp boosted its position in shares of Red Cat by 200.0% during the first quarter. NFSG Corp now owns 3,000 shares of the company’s stock valued at $39,000 after buying an additional 2,000 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Red Cat by 294.6% during the first quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the company’s stock valued at $40,000 after buying an additional 2,271 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its position in shares of Red Cat by 552.0% during the third quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock valued at $34,000 after buying an additional 2,760 shares during the last quarter. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on RCAT. Clear Str raised Red Cat to a “strong-buy” rating in a research note on Wednesday, April 29th. Needham & Company LLC lifted their price target on Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Wall Street Zen upgraded shares of Red Cat from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. LADENBURG THALM/SH SH raised shares of Red Cat to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Red Cat currently has a consensus rating of “Buy” and a consensus price target of $21.40.

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.