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

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) have earned a consensus rating of “Buy” from the five brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $14.00.

RCAT has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a research report on Wednesday, October 8th. Needham & Company LLC cut their price target on Red Cat from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 14th. LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Wall Street Zen cut shares of Red Cat from a “hold” rating to a “sell” rating in a research note on Saturday, October 4th.

Insider Activity

In related news, Director Christopher R. Moe sold 10,000 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $10.91, for a total value of $109,100.00. Following the completion of the sale, the director directly owned 53,073 shares in the company, valued at approximately $579,026.43. This represents a 15.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 15.30% of the company’s stock.

Institutional Trading of Red Cat

Several large investors have recently made changes to their positions in RCAT. Bank of America Corp DE lifted its stake in shares of Red Cat by 407.0% in the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock valued at $44,000 after buying an additional 2,727 shares during the period. Invesco Ltd. grew its holdings in shares of Red Cat by 309.8% during the 1st quarter. Invesco Ltd. now owns 96,134 shares of the company’s stock worth $565,000 after purchasing an additional 72,678 shares in the last quarter. Apis Capital Advisors LLC increased its position in shares of Red Cat by 4.9% during the first quarter. Apis Capital Advisors LLC now owns 682,000 shares of the company’s stock valued at $4,010,000 after purchasing an additional 32,000 shares during the period. Royal Bank of Canada raised its stake in shares of Red Cat by 76.4% in the first quarter. Royal Bank of Canada now owns 57,800 shares of the company’s stock valued at $340,000 after purchasing an additional 25,031 shares in the last quarter. Finally, GW Henssler & Associates Ltd. acquired a new position in shares of Red Cat in the first quarter valued at $1,297,000. Institutional investors own 37.97% of the company’s stock.

Red Cat Stock Performance

Shares of RCAT opened at $9.22 on Thursday. The company has a market capitalization of $1.10 billion, a PE ratio of -20.95 and a beta of 1.49. The company’s 50 day moving average price is $8.96 and its 200 day moving average price is $9.27. Red Cat has a 52 week low of $4.58 and a 52 week high of $16.70.

Red Cat (NASDAQ:RCAT) last issued its earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The business had revenue of $9.65 million for the quarter, compared to the consensus estimate of $8.18 million. On average, equities analysts forecast that Red Cat will post -0.5 earnings per share 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.