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

Red Cat Holdings, Inc. (NASDAQ:RCAT) has earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.00.

Several research analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of Red Cat in a report on Wednesday, May 27th. They set a “buy” rating for the company. Roth Capital assumed coverage on Red Cat in a report on Monday, June 1st. They set a “buy” rating and a $25.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Red Cat in a research report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a research report on Friday, July 17th. Finally, Wall Street Zen cut Red Cat from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th.

Red Cat Trading Up 2.6%

Shares of Red Cat stock opened at $8.54 on Friday. The firm’s 50 day moving average is $9.00 and its 200 day moving average is $11.23. The firm has a market capitalization of $1.05 billion, a PE ratio of -10.54 and a beta of 1.35. Red Cat has a 1 year low of $5.77 and a 1 year high of $18.78.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.05). Red Cat had a negative net margin of 136.26% and a negative return on equity of 32.25%. The company had revenue of $20.20 million during the quarter, compared to the consensus estimate of $22.65 million. As a group, research analysts anticipate that Red Cat will post -0.78 earnings per share for the current year.

Insider Transactions at Red Cat

In other news, Director Nicholas Liuzza, Jr. sold 55,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $10.63, for a total transaction of $584,650.00. Following the sale, the director directly owned 489,874 shares in the company, 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 accessible through the SEC website. Also, Director Paul Funk, II sold 165,028 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $11.50, for a total value of $1,897,822.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 240,028 shares of company stock worth $2,692,672. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Red Cat

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCAT. Fifth Third Bancorp bought a new position in shares of Red Cat during the first quarter valued at $33,000. Allworth Financial LP bought a new stake in shares of Red Cat in the second quarter worth $28,000. IFP Advisors Inc grew 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 last quarter. NFSG Corp increased its holdings in Red Cat by 200.0% in the first quarter. NFSG Corp now owns 3,000 shares of the company’s stock valued at $39,000 after purchasing an additional 2,000 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Red Cat by 294.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the company’s stock worth $40,000 after purchasing an additional 2,271 shares during the last quarter. 37.97% of the stock is currently owned by institutional investors and hedge funds.

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.