Red Cat Holdings, Inc. (NASDAQ:RCAT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $18.00.

Several brokerages have weighed in on RCAT. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Red Cat in a report on Friday, August 7th. Evercore began coverage on Red Cat in a research report on Monday. They issued an “outperform” rating and a $15.00 price target on the stock. Roth Capital started coverage on Red Cat in a research note on Monday, June 1st. They issued a “buy” rating and a $25.00 price target for the company. Needham & Company LLC cut their price objective on shares of Red Cat from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research report on Friday, July 17th.

Insider Activity

In other news, Director Christopher Moe sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $10.51, for a total value of $210,200.00. Following the completion of the transaction, the director directly owned 200,502 shares in the company, valued at approximately $2,107,276.02. The trade was a 9.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nicholas Liuzza, Jr. sold 55,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $5,207,360.62. This trade represents a 10.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 240,028 shares of company stock worth $2,692,672. 12.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Red Cat

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCAT. Corient Private Wealth LP increased its stake in shares of Red Cat by 135.5% in the 2nd quarter. Corient Private Wealth LP now owns 27,310 shares of the company’s stock valued at $291,000 after purchasing an additional 15,712 shares during the last quarter. Kingsbury Capital Investment Advisors LLC lifted its position in shares of Red Cat by 22.7% during the 2nd quarter. Kingsbury Capital Investment Advisors LLC now owns 13,556 shares of the company’s stock worth $144,000 after buying an additional 2,512 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Red Cat during the 2nd quarter worth $200,000. California State Teachers Retirement System boosted its stake in Red Cat by 1,038.2% in the second quarter. California State Teachers Retirement System now owns 1,585,167 shares of the company’s stock valued at $16,882,000 after buying an additional 1,445,899 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in Red Cat by 114.9% in the second quarter. Concurrent Investment Advisors LLC now owns 66,384 shares of the company’s stock valued at $707,000 after buying an additional 35,499 shares in the last quarter. 37.97% of the stock is currently owned by institutional investors.

Red Cat Stock Up 2.6%

NASDAQ RCAT opened at $8.54 on Friday. The firm has a 50-day moving average price of $9.00 and a two-hundred day moving average price of $11.23. Red Cat has a 12-month low of $5.77 and a 12-month high of $18.78. The company has a market capitalization of $1.05 billion, a P/E ratio of -10.54 and a beta of 1.35.

Red Cat (NASDAQ:RCAT) last announced its earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.05). The business had revenue of $20.20 million for the quarter, compared to the consensus estimate of $22.65 million. Red Cat had a negative return on equity of 32.25% and a negative net margin of 136.26%. Equities analysts expect that Red Cat will post -0.78 EPS for the current year.

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.