Red Cat (NASDAQ:RCAT) Raised to "Hold" at Wall Street Zen

Red Cat (NASDAQ:RCAT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Red Cat Stock Down 4.4%

Red Cat stock opened at $9.46 on Friday. The company has a 50 day moving average of $7.86 and a 200-day moving average of $7.33. Red Cat has a twelve month low of $1.66 and a twelve month high of $15.27. The stock has a market capitalization of $870.13 million, a PE ratio of -17.52 and a beta of 1.43.

Red Cat (NASDAQ:RCAT - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.17). Equities analysts anticipate that Red Cat will post -0.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Nicholas Reyland Liuzza, Jr. sold 100,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $8.58, for a total value of $858,000.00. Following the sale, the director owned 387,445 shares of the company's stock, valued at $3,324,278.10. The trade was a 20.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph David Freedman sold 150,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $7.37, for a total transaction of $1,105,500.00. Following the transaction, the director owned 165,260 shares of the company's stock, valued at $1,217,966.20. The trade was a 47.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 350,309 shares of company stock worth $2,635,570. 15.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Red Cat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in Red Cat by 407.0% during the fourth 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 during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Red Cat by 104.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company's stock worth $56,000 after purchasing an additional 4,835 shares in the last quarter. Summit Trail Advisors LLC bought a new stake in shares of Red Cat during the 1st quarter worth approximately $59,000. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Red Cat by 30.0% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company's stock valued at $83,000 after buying an additional 3,250 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Red Cat in the first quarter valued at $89,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

About Red Cat

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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