Red Cat (NASDAQ:RCAT) Upgraded at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Red Cat (NASDAQ:RCAT) to a strong-buy rating in a report released on Thursday,Zacks.com reports.

Several other research analysts also recently commented on RCAT. Wall Street Zen downgraded Red Cat from a “hold” rating to a “sell” rating in a research report on Saturday. Northland Securities set a $16.00 price target on Red Cat in a research report on Friday, August 15th. Needham & Company LLC initiated coverage on Red Cat in a research report on Friday. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $16.50.

Red Cat Stock Performance

Shares of RCAT stock opened at $12.89 on Thursday. The stock’s 50 day simple moving average is $9.64 and its 200 day simple moving average is $7.87. Red Cat has a twelve month low of $2.66 and a twelve month high of $15.27. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -23.87 and a beta of 1.45.

Insider Buying and Selling

In other Red Cat news, Director Christopher R. Moe sold 30,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $10.11, for a total value of $303,300.00. Following the transaction, the director owned 73,073 shares of the company’s stock, valued at approximately $738,768.03. The trade was a 29.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 86,833 shares of company stock valued at $861,560 over the last quarter. 15.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Red Cat

A number of institutional investors and hedge funds have recently bought and sold shares of RCAT. Geode Capital Management LLC boosted its stake in Red Cat by 142.7% in the second quarter. Geode Capital Management LLC now owns 1,656,720 shares of the company’s stock worth $12,063,000 after purchasing an additional 974,121 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Red Cat by 125.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 517,061 shares of the company’s stock worth $3,764,000 after purchasing an additional 287,802 shares in the last quarter. AWM Investment Company Inc. boosted its stake in Red Cat by 15.3% in the second quarter. AWM Investment Company Inc. now owns 2,037,616 shares of the company’s stock worth $14,834,000 after purchasing an additional 269,942 shares in the last quarter. GW Henssler & Associates Ltd. acquired a new position in Red Cat in the first quarter worth $1,297,000. Finally, XTX Topco Ltd boosted its stake in Red Cat by 510.9% in the second quarter. XTX Topco Ltd now owns 237,927 shares of the company’s stock worth $1,732,000 after purchasing an additional 198,982 shares in the last quarter. Institutional investors and hedge funds own 37.97% of the company’s stock.

Red Cat Company Profile

Red Cat Holdings, Inc engages in the provision of various products, services, and solutions to the drone industry. The company operates through two segments: Enterprise and Consumer. It built infrastructure to manages drone fleets and fly, and provide services remotely, navigate confined industrial interior spaces and dangerous military environment.