Red Cat (NASDAQ:RCAT) Director Sells 55,000 Shares

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Nicholas Reyland Liuzza, Jr. sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $10.63, for a total transaction of $584,650.00. Following the completion of the sale, the director owned 489,874 shares of the company’s stock, valued at approximately $5,207,360.62. The trade was a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Red Cat Price Performance

RCAT stock traded down $0.09 on Thursday, hitting $10.23. 8,020,427 shares of the company were exchanged, compared to its average volume of 13,911,289. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -12.63 and a beta of 1.31. Red Cat Holdings, Inc. has a twelve month low of $5.77 and a twelve month high of $18.78. The business’s fifty day moving average is $9.64 and its two-hundred day moving average is $11.70.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) 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 analysts’ expectations of $22.65 million. Red Cat had a negative net margin of 136.26% and a negative return on equity of 39.64%. Equities research analysts expect that Red Cat Holdings, Inc. will post -0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Red Cat in the second quarter worth about $119,610,000. State Street Corp lifted its position in Red Cat by 136.4% during the 4th quarter. State Street Corp now owns 6,612,153 shares of the company’s stock worth $52,434,000 after acquiring an additional 3,815,310 shares in the last quarter. Vanguard Group Inc. lifted its position in Red Cat by 43.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,506,377 shares of the company’s stock worth $56,991,000 after acquiring an additional 1,680,929 shares in the last quarter. Davidson Kempner Capital Management LP purchased a new position in Red Cat in the 3rd quarter worth approximately $17,286,000. Finally, Renaissance Technologies LLC purchased a new position in Red Cat in the 1st quarter worth approximately $18,533,000. 37.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RCAT has been the subject of several research analyst reports. UBS Group assumed coverage on Red Cat in a research note on Wednesday, May 27th. They set a “buy” rating for the company. Needham & Company LLC decreased their target price on Red Cat from $20.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Red Cat in a report on Friday, August 7th. Finally, Clear Str raised shares of Red Cat to a “strong-buy” rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Red Cat currently has a consensus rating of “Buy” and an average price target of $20.40.

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.