Red Cat (NASDAQ:RCAT) Rating Increased to Strong-Buy at Clear Str

Red Cat (NASDAQ:RCAT - Get Free Report) was upgraded by equities research analysts at Clear Str to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Red Cat in a research report on Tuesday, April 21st. LADENBURG THALM/SH SH upped their price target on Red Cat from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Needham & Company LLC upped 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. Wall Street Zen raised Red Cat from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. Finally, Northland Securities set a $22.00 price target on Red Cat in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $20.67.

Red Cat Price Performance

Shares of NASDAQ:RCAT opened at $11.72 on Wednesday. The company has a market capitalization of $1.42 billion, a PE ratio of -15.63 and a beta of 1.46. The business has a fifty day moving average price of $13.53 and a two-hundred day moving average price of $11.55. Red Cat has a 1 year low of $5.03 and a 1 year high of $18.78.

Red Cat (NASDAQ:RCAT - Get Free Report) last announced its quarterly earnings data on Wednesday, March 18th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.03). The business had revenue of $26.24 million during 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%. Sell-side analysts anticipate that Red Cat will post -0.34 earnings per share for the current year.

Institutional Trading of Red Cat

Institutional investors have recently added to or reduced their stakes in the stock. Brevan Howard Capital Management LP purchased a new stake in Red Cat during the 3rd quarter worth about $19,739,000. Tudor Investment Corp ET AL lifted its holdings in Red Cat by 214.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,277,523 shares of the company's stock worth $13,222,000 after purchasing an additional 870,612 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in Red Cat during the 3rd quarter worth about $880,000. SG Americas Securities LLC purchased a new stake in Red Cat during the 3rd quarter worth about $418,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Red Cat during the 3rd quarter worth about $491,000. Hedge funds and other 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.

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