Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock Has Consensus Price Target of $16.71 According to Analysts

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $16.71.

RCAT has been the subject of several recent analyst reports. Evercore initiated coverage on shares of Red Cat in a report on Monday, August 31st. They set an “outperform” rating and a $15.00 price objective for the company. Northland Securities set a $13.00 price target on Red Cat in a research report on Thursday, September 17th. Piper Sandler started coverage on Red Cat in a report on Wednesday, September 2nd. They set a “neutral” rating and a $9.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a research report on Friday, July 17th. Finally, Wall Street Zen lowered Red Cat from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th.

Read Our Latest Analysis on RCAT

Insider Activity at Red Cat

In other Red Cat news, Director Nicholas Reyland Liuzza, Jr. sold 55,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $10.63, for a total transaction of $584,650.00. Following the sale, the director owned 489,874 shares of the company’s stock, valued at $5,207,360.62. This represents a 10.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher R. Moe sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $10.51, for a total transaction of $210,200.00. Following the completion of the sale, the director owned 200,502 shares of the company’s stock, valued at $2,107,276.02. The trade was a 9.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 225,000 shares of company stock valued at $1,955,850 over the last ninety days. 12.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Red Cat

Large investors have recently modified their holdings of the stock. Sei Investments Co. bought a new position in shares of Red Cat in the 1st quarter valued at about $2,328,000. BlackRock Inc. acquired a new position in Red Cat in the second quarter valued at approximately $119,610,000. Janus Henderson Group PLC lifted 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 buying an additional 345,693 shares during the period. Deutsche Bank AG bought a new position in Red Cat in the second quarter valued at approximately $1,270,000. Finally, Van ECK Associates Corp bought a new position in Red Cat in the second quarter valued at approximately $27,193,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

Red Cat Stock Performance

RCAT opened at $6.34 on Tuesday. The firm’s 50-day simple moving average is $8.24 and its 200-day simple moving average is $10.20. Red Cat has a twelve month low of $5.77 and a twelve month high of $18.78. The firm has a market cap of $778.17 million, a price-to-earnings ratio of -7.83 and a beta of 1.51.

Red Cat (NASDAQ:RCAT – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.05). The firm had revenue of $20.20 million for the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Red Cat will post -0.79 EPS for the current fiscal year.

Red Cat Company Profile

(Get Free Report)

Red Cat Holdings, Inc is a drone technology company that develops and supplies unmanned aircraft systems for defense, government, public safety and commercial applications. The company focuses on autonomous and remotely operated aerial systems designed to support intelligence, surveillance and reconnaissance missions, including operations in contested or GPS-denied environments.

Red Cat’s product portfolio includes the Teal 2 small unmanned aircraft system, a compact drone designed for close-range reconnaissance and situational awareness.

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Analyst Recommendations for Red Cat (NASDAQ:RCAT)

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