Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) traded down 2% on Tuesday . The company traded as low as $12.43 and last traded at $12.64. 8,273,198 shares were traded during trading, a decline of 48% from the average session volume of 16,005,455 shares. The stock had previously closed at $12.90.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Needham & Company LLC lifted their price target on Red Cat from $16.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Wall Street Zen upgraded Red Cat from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. LADENBURG THALM/SH SH lifted their price target on Red Cat from $15.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Red Cat in a report on Thursday, January 22nd. Finally, Northland Securities set a $22.00 price target on Red Cat in a report on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.67.
Read Our Latest Stock Report on Red Cat
Red Cat Stock Down 2.0%
The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -16.85 and a beta of 1.46. The business has a 50-day moving average of $13.50 and a 200-day moving average of $11.54.
Red Cat (NASDAQ:RCAT - Get Free Report) last released 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 firm had revenue of $26.24 million for the quarter, compared to analyst estimates of $24.50 million. Red Cat had a negative net margin of 176.96% and a negative return on equity of 38.86%. Equities analysts anticipate that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.
Institutional Trading of Red Cat
Institutional investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its position 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 last quarter. Montag A & Associates Inc. boosted its position 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 last quarter. 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. Global Retirement Partners LLC acquired a new stake in Red Cat during the third quarter valued at $36,000. Finally, Penserra Capital Management LLC acquired a new stake in shares of Red Cat in the third quarter worth about $46,000. Institutional investors and hedge funds own 37.97% of the company's stock.
About Red Cat
(
Get Free Report)
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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