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

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) have earned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.00.

Several brokerages recently issued reports on RCAT. Needham & Company LLC reduced their price objective on shares of Red Cat from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Roth Capital started coverage on shares of Red Cat in a report on Monday, June 1st. They issued a “buy” rating and a $25.00 price objective on the stock. 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 set a $20.00 price target on shares of Red Cat in a research report on Friday, August 7th. Finally, Wall Street Zen lowered Red Cat from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th.

Red Cat Trading Down 0.6%

Red Cat stock opened at $8.08 on Friday. The company has a 50-day moving average price of $8.80 and a 200 day moving average price of $11.10. Red Cat has a 12-month low of $5.77 and a 12-month high of $18.78. The stock has a market cap of $991.74 million, a P/E ratio of -9.98 and a beta of 1.35.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.05). The firm had revenue of $20.20 million during 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 32.25%. As a group, analysts forecast that Red Cat will post -0.77 EPS for the current year.

Insider Transactions at Red Cat

In other news, Director Christopher R. Moe sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $10.51, for a total value of $210,200.00. Following the completion of the transaction, the director owned 200,502 shares of the company’s stock, valued at approximately $2,107,276.02. This trade represents a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nicholas Reyland Liuzza, Jr. sold 55,000 shares of Red Cat 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 transaction, the director owned 489,874 shares of the company’s stock, valued at $5,207,360.62. This trade represents a 10.09% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Red Cat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. purchased a new position in shares of Red Cat in the 1st quarter valued at about $2,328,000. BlackRock Inc. purchased a new stake in shares of Red Cat during the second quarter worth approximately $119,610,000. Janus Henderson Group PLC raised its holdings in Red Cat by 733.7% in the first quarter. Janus Henderson Group PLC now owns 392,808 shares of the company’s stock valued at $5,141,000 after acquiring an additional 345,693 shares in the last quarter. EVR Research LP acquired a new position in Red Cat during the 4th quarter worth approximately $1,705,000. Finally, Deutsche Bank AG purchased a new stake in shares of Red Cat in the 2nd quarter valued at approximately $1,270,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

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.