Red Cat (NASDAQ:RCAT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Red Cat (NASDAQ:RCAT) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other equities analysts also recently issued reports on the stock. Northland Securities set a $22.00 price target on shares of Red Cat in a research note on Tuesday, January 20th. LADENBURG THALM/SH SH upped their target price on Red Cat from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Needham & Company LLC raised their target price on Red Cat from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Red Cat presently has an average rating of “Hold” and a consensus price target of $20.67.

Red Cat Stock Performance

Shares of RCAT stock opened at $15.15 on Friday. Red Cat has a fifty-two week low of $4.60 and a fifty-two week high of $18.78. The firm has a market cap of $1.84 billion, a P/E ratio of -20.20 and a beta of 1.53. The business’s 50 day moving average price is $13.96 and its 200-day moving average price is $11.24.

Red Cat (NASDAQ:RCAT) last announced its earnings results on Wednesday, March 18th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The business had revenue of $26.24 million for the quarter, compared to the consensus estimate of $24.50 million. Red Cat had a negative net margin of 176.96% and a negative return on equity of 38.86%. As a group, equities analysts predict that Red Cat will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its stake in Red Cat by 1,825.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 54,152 shares of the company’s stock valued at $429,000 after buying an additional 51,339 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Red Cat during the fourth quarter valued at $196,000. Invesco Ltd. boosted its stake in Red Cat by 36.3% in the 4th quarter. Invesco Ltd. now owns 237,038 shares of the company’s stock worth $1,880,000 after purchasing an additional 63,098 shares in the last quarter. Vident Advisory LLC purchased a new stake in Red Cat during the 4th quarter valued at about $1,009,000. Finally, Janus Henderson Group PLC increased its stake in Red Cat by 29.5% during the 4th quarter. Janus Henderson Group PLC now owns 47,115 shares of the company’s stock valued at $374,000 after purchasing an additional 10,723 shares in the last quarter. Institutional investors own 37.97% of the company’s stock.

Red Cat Company Profile

Red Cat Holdings, Inc (NASDAQ: RCAT) is a technology holding company that develops and delivers advanced robotics, autonomy, and sensing solutions for defense, national security, public safety and commercial customers. Headquartered in American Fork, Utah, the company brings together a portfolio of specialized operating businesses focused on unmanned aerial systems (UAS), mission management software, precision mapping sensors and engineering services.

Through its UAS segment, Red Cat designs and manufactures small to medium-sized fixed-wing and vertical-takeoff drones that support intelligence, surveillance and reconnaissance (ISR) missions.