Red Cat (NASDAQ:RCAT) Rating Increased to Strong-Buy at Clear Str

Clear Str upgraded shares of Red Cat (NASDAQ:RCAT) to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on RCAT. Needham & Company LLC boosted 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research report on Tuesday, April 21st. LADENBURG THALM/SH SH boosted their price target on Red Cat from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Wall Street Zen raised Red Cat from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Northland Securities set a $22.00 price objective on Red Cat in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Red Cat has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Red Cat Price Performance

Shares of NASDAQ:RCAT opened at $11.72 on Wednesday. Red Cat has a fifty-two week low of $5.03 and a fifty-two week high of $18.78. The business has a 50-day moving average of $13.53 and a two-hundred day moving average of $11.55. The stock has a market capitalization of $1.42 billion, a P/E ratio of -15.63 and a beta of 1.46.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings results on Wednesday, March 18th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). Red Cat had a negative return on equity of 38.86% and a negative net margin of 176.96%.The company had revenue of $26.24 million during the quarter, compared to analyst estimates of $24.50 million. As a group, research analysts expect that Red Cat will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Cat

Institutional investors have recently made changes to their positions in the business. IFP Advisors Inc increased its stake in shares of Red Cat by 181.1% in the third quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after purchasing an additional 1,720 shares during the period. Montag A & Associates Inc. increased its stake in shares of Red Cat by 552.0% in the third quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock worth $34,000 after purchasing an additional 2,760 shares during the period. California State Teachers Retirement System bought a new position in shares of Red Cat in the second quarter worth about $34,000. Global Retirement Partners LLC bought a new position in shares of Red Cat in the third quarter worth about $36,000. Finally, N.E.W. Advisory Services LLC increased its stake in shares of Red Cat by 163.5% in the fourth quarter. N.E.W. Advisory Services LLC now owns 5,356 shares of the company’s stock worth $42,000 after purchasing an additional 3,323 shares during the period. 37.97% of the stock is currently owned by institutional investors.

About Red Cat

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.