Red Cat Holdings, Inc. (NASDAQ:RCAT) Receives $21.40 Average Target Price from Analysts

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) have been given an average recommendation of “Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $21.40.

Several research firms have commented on RCAT. Wall Street Zen lowered shares of Red Cat from a “sell” rating to a “strong sell” rating in a research note on Saturday. UBS Group assumed coverage on Red Cat in a research note on Wednesday, May 27th. They issued a “buy” rating on the stock. HC Wainwright assumed coverage on Red Cat in a report on Wednesday, May 27th. They issued a “buy” rating and a $20.00 target price for the company. Roth Capital began coverage on Red Cat in a research report on Monday, June 1st. They set a “buy” rating and a $25.00 price target for the company. Finally, LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a report on Wednesday, May 6th.

Insider Transactions at Red Cat

In other Red Cat news, Director Paul Funk II sold 165,028 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $11.50, for a total value of $1,897,822.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Red Cat

Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its position in 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 acquiring an additional 1,720 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Red Cat during the 1st quarter worth approximately $33,000. California State Teachers Retirement System bought a new stake in shares of Red Cat in the 2nd quarter worth approximately $34,000. NFSG Corp raised its holdings in shares of Red Cat by 200.0% in the 1st quarter. NFSG Corp now owns 3,000 shares of the company’s stock worth $39,000 after purchasing an additional 2,000 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Red Cat by 294.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the company’s stock valued at $40,000 after purchasing an additional 2,271 shares during the last quarter. Institutional investors own 37.97% of the company’s stock.

Red Cat Price Performance

NASDAQ RCAT opened at $7.64 on Thursday. The company has a fifty day moving average price of $10.56 and a 200-day moving average price of $12.13. The firm has a market cap of $937.73 million, a price-to-earnings ratio of -10.91 and a beta of 1.29. Red Cat has a 1 year low of $5.77 and a 1 year high of $18.78.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). Red Cat had a negative net margin of 138.36% and a negative return on equity of 35.86%. The firm had revenue of $15.47 million for the quarter, compared to the consensus estimate of $17.63 million. Red Cat’s quarterly revenue was up 849.1% compared to the same quarter last year. On average, research analysts anticipate that Red Cat will post -0.67 EPS for the current fiscal year.

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.