LADENBURG THALM/SH SH Initiates Coverage on Red Cat (NASDAQ:RCAT)

LADENBURG THALM/SH SH started coverage on shares of Red Cat (NASDAQ:RCATFree Report) in a research report released on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $4.00 target price on the stock.

Red Cat Price Performance

NASDAQ RCAT opened at $1.12 on Friday. Red Cat has a 1 year low of $0.53 and a 1 year high of $1.65. The stock has a market capitalization of $83.19 million, a PE ratio of -2.15 and a beta of -0.15. The business’s 50-day moving average is $1.11 and its 200 day moving average is $0.87.

Red Cat (NASDAQ:RCATGet Free Report) last issued its quarterly earnings data on Monday, March 18th. The company reported ($0.04) earnings per share for the quarter. The business had revenue of $5.85 million during the quarter. Red Cat had a negative return on equity of 52.40% and a negative net margin of 206.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RCAT. Gladstone Institutional Advisory LLC purchased a new stake in shares of Red Cat in the 4th quarter worth about $41,000. PVG Asset Management Corp bought a new position in Red Cat in the fourth quarter worth about $230,000. Worth Venture Partners LLC purchased a new stake in Red Cat in the fourth quarter worth about $1,101,000. Finally, AIGH Capital Management LLC bought a new stake in Red Cat during the 4th quarter valued at approximately $4,423,000. 37.97% of the stock is owned by hedge funds and other institutional investors.

About Red Cat

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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.

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