Red Cat Holdings, Inc. (NASDAQ:RCAT) Given Consensus Rating of “Buy” by Analysts

Red Cat Holdings, Inc. (NASDAQ:RCAT) has received a consensus rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $20.50.

A number of analysts recently commented on RCAT shares. Wall Street Zen downgraded Red Cat from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. UBS Group started coverage on Red Cat in a research report on Wednesday. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research report on Tuesday, April 21st. Needham & Company LLC increased their price target on Red Cat from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a research report on Wednesday, May 6th.

Hedge Funds Weigh In On Red Cat

Institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp bought a new position in Red Cat during the first quarter valued at $33,000. IFP Advisors Inc grew its holdings in Red Cat by 181.1% during the third quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock valued at $28,000 after purchasing an additional 1,720 shares during the period. NFSG Corp grew its holdings in Red Cat by 200.0% during the first quarter. NFSG Corp now owns 3,000 shares of the company’s stock valued at $39,000 after purchasing an additional 2,000 shares during the period. PNC Financial Services Group Inc. grew its holdings in Red Cat by 294.6% during the first quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the company’s stock valued at $40,000 after purchasing an additional 2,271 shares during the period. Finally, Montag A & Associates Inc. grew its holdings in Red Cat by 552.0% during the third quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock valued at $34,000 after purchasing an additional 2,760 shares during the period. 37.97% of the stock is owned by institutional investors.

Red Cat Stock Up 3.8%

Shares of Red Cat stock opened at $9.77 on Wednesday. The company has a market cap of $1.20 billion, a PE ratio of -13.96 and a beta of 1.21. Red Cat has a 52 week low of $5.71 and a 52 week high of $18.78. The business has a 50 day moving average price of $12.15 and a 200-day moving average price of $11.35.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.10). The company had revenue of $15.47 million during the quarter, compared to analysts’ expectations of $17.63 million. Red Cat had a negative return on equity of 35.86% and a negative net margin of 138.36%.Red Cat’s revenue was up 849.1% compared to the same quarter last year. As a group, research analysts anticipate that Red Cat will post -0.65 EPS for the current year.

About Red Cat

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.