Red Cat Holdings, Inc. (NASDAQ:RCAT) Given Average Rating of “Buy” by Brokerages

Red Cat Holdings, Inc. (NASDAQ:RCAT) has been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $21.40.

RCAT has been the subject of a number of research analyst reports. Clear Str raised Red Cat to a “strong-buy” rating in a research report on Wednesday, April 29th. Wall Street Zen raised Red Cat from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research note on Tuesday, April 21st. Needham & Company LLC upped their price objective on Red Cat from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Finally, Roth Mkm 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.

Red Cat Price Performance

Shares of NASDAQ RCAT opened at $11.44 on Friday. The stock has a market cap of $1.40 billion, a PE ratio of -16.34 and a beta of 1.23. Red Cat has a 52-week low of $5.77 and a 52-week high of $18.78. The business has a 50-day moving average price of $11.60 and a 200 day moving average price of $11.94.

Red Cat (NASDAQ:RCAT) last announced its earnings results on Thursday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). The firm had revenue of $15.47 million during the quarter, compared to analyst estimates of $17.63 million. Red Cat had a negative net margin of 138.36% and a negative return on equity of 35.86%. Red Cat’s revenue was up 849.1% on a year-over-year basis. Sell-side analysts anticipate that Red Cat will post -0.68 earnings per share for the current year.

Insider Buying and Selling

In other Red Cat news, Director Paul Funk II sold 165,028 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $11.50, for a total transaction of $1,897,822.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Red Cat

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCAT. Bank of America Corp DE raised its stake in Red Cat by 407.0% during the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock valued at $44,000 after acquiring an additional 2,727 shares during the last quarter. Royal Bank of Canada raised its stake in Red Cat by 76.4% during the 1st quarter. Royal Bank of Canada now owns 57,800 shares of the company’s stock valued at $340,000 after acquiring an additional 25,031 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Red Cat by 63.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 229,259 shares of the company’s stock valued at $1,348,000 after acquiring an additional 89,095 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Red Cat by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 266,099 shares of the company’s stock valued at $1,565,000 after acquiring an additional 59,334 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Red Cat during the 2nd quarter worth approximately $97,000. 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.