Red Cat Holdings, Inc. (NASDAQ:RCAT) Receives Consensus Recommendation of “Buy” from Brokerages

Red Cat Holdings, Inc. (NASDAQ:RCAT) has received an average rating of “Buy” from the five research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $16.50.

Several research analysts have issued reports on RCAT shares. Northland Securities set a $16.00 target price on Red Cat in a research report on Friday, August 15th. Wall Street Zen cut Red Cat from a “hold” rating to a “sell” rating in a research report on Saturday. Needham & Company LLC assumed coverage on Red Cat in a research report on Friday. They set a “buy” rating and a $17.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research report on Saturday, September 27th. Finally, LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a research report on Thursday.

Insider Buying and Selling at Red Cat

In other news, Director Christopher R. Moe sold 30,000 shares of Red Cat stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $10.11, for a total transaction of $303,300.00. Following the transaction, the director directly owned 73,073 shares of the company’s stock, valued at $738,768.03. The trade was a 29.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 86,833 shares of company stock worth $861,560. 15.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RCAT. Geode Capital Management LLC lifted its holdings in Red Cat by 142.7% in the 2nd 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. lifted its holdings in Red Cat by 125.5% in the 2nd 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. lifted its holdings in Red Cat by 15.3% in the 2nd 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. bought a new stake in Red Cat in the 1st quarter worth approximately $1,297,000. Finally, XTX Topco Ltd increased its stake in Red Cat by 510.9% in the 2nd quarter. XTX Topco Ltd now owns 237,927 shares of the company’s stock worth $1,732,000 after acquiring an additional 198,982 shares during the last quarter. 37.97% of the stock is owned by hedge funds and other institutional investors.

Red Cat Stock Performance

Shares of NASDAQ:RCAT opened at $12.89 on Friday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -23.87 and a beta of 1.45. The stock’s 50-day simple moving average is $9.64 and its two-hundred day simple moving average is $7.85. Red Cat has a 52-week low of $2.66 and a 52-week high of $15.27.

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.