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

Red Cat (NASDAQ:RCAT) was upgraded by equities research analysts at LADENBURG THALM/SH SH to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

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

Red Cat Stock Up 11.9%

Shares of NASDAQ:RCAT opened at $12.89 on Thursday. Red Cat has a fifty-two week low of $2.66 and a fifty-two week high of $15.27. The firm has a 50-day simple moving average of $9.64 and a 200 day simple moving average of $7.85. The company has a market cap of $1.52 billion, a PE ratio of -23.87 and a beta of 1.45.

Insider Buying and Selling at Red Cat

In other news, Director Christopher R. Moe sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $10.91, for a total value of $109,100.00. Following the completion of the sale, the director directly owned 53,073 shares of the company’s stock, valued at approximately $579,026.43. This represents a 15.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 86,833 shares of company stock valued at $861,560. Corporate insiders own 15.30% of the company’s stock.

Institutional Trading of Red Cat

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System acquired a new stake in shares of Red Cat in the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Red Cat by 28,681.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,044 shares of the company’s stock worth $44,000 after acquiring an additional 6,023 shares during the period. Bank of America Corp DE lifted its stake in shares of Red Cat by 407.0% in the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock worth $44,000 after acquiring an additional 2,727 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Red Cat by 1,537.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,220 shares of the company’s stock worth $53,000 after acquiring an additional 6,779 shares during the period. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Red Cat by 104.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company’s stock worth $56,000 after acquiring an additional 4,835 shares during the period. 37.97% of the stock is owned by institutional investors and hedge funds.

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.