Red Cat Holdings, Inc. (NASDAQ:RCAT) Receives $16.50 Consensus Price Target from Analysts

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) have been assigned an average recommendation of “Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research 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 1-year price objective among analysts that have issued ratings on the stock in the last year is $16.50.

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Red Cat from a “hold” rating to a “sell” rating in a research note on Saturday, October 4th. LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research note on Wednesday. Northland Securities set a $16.00 price target on Red Cat in a research report on Friday, August 15th. Finally, Needham & Company LLC began coverage on Red Cat in a report on Friday, October 3rd. They issued a “buy” rating and a $17.00 target price for the company.

Red Cat Price Performance

RCAT opened at $14.35 on Friday. The business’s 50-day moving average is $10.00 and its two-hundred day moving average is $8.04. Red Cat has a 1 year low of $2.66 and a 1 year high of $15.53. The firm has a market capitalization of $1.69 billion, a PE ratio of -26.57 and a beta of 1.45.

Insider Activity at Red Cat

In related news, Director Christopher R. Moe sold 30,000 shares of the 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 owned 73,073 shares of the company’s stock, valued at approximately $738,768.03. This represents a 29.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 86,833 shares of company stock valued at $861,560. Corporate insiders own 15.30% of the company’s stock.

Hedge Funds Weigh In On Red Cat

Hedge funds have recently bought and sold shares of the company. VestGen Advisors LLC raised its position in Red Cat by 4.9% in the 2nd quarter. VestGen Advisors LLC now owns 23,625 shares of the company’s stock valued at $172,000 after purchasing an additional 1,097 shares in the last quarter. Bank of America Corp DE raised its position in Red Cat by 407.0% in the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock valued at $44,000 after purchasing an additional 2,727 shares in the last quarter. Squarepoint Ops LLC raised its position in Red Cat by 23.0% in the 4th quarter. Squarepoint Ops LLC now owns 15,496 shares of the company’s stock valued at $199,000 after purchasing an additional 2,902 shares in the last quarter. Western Wealth Management LLC raised its position in Red Cat by 12.8% in the 2nd quarter. Western Wealth Management LLC now owns 26,500 shares of the company’s stock valued at $193,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Financial Advocates Investment Management raised its position in Red Cat by 29.0% in the 2nd quarter. Financial Advocates Investment Management now owns 13,555 shares of the company’s stock valued at $99,000 after purchasing an additional 3,046 shares in the last quarter. Institutional investors and hedge funds own 37.97% of the company’s stock.

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.