Red Cat (NASDAQ:RCAT) Upgraded at LADENBURG THALM/SH SH

Key Points

• Red Cat (NASDAQ:RCAT) received an upgrade to a "strong-buy" rating from analysts at LADENBURG THALM/SH SH, while other firms have issued mixed ratings on the stock.
• The stock is trading higher, opening at $12.89 after a twelve-month high of $15.27, and has a consensus price target of $16.50.
• Insider trading activity showed a significant sale by Director Christopher R. Moe, who offloaded 10,000 shares, reducing their position by 15.85%.

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

Other equities analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Red Cat from a "hold" rating to a "sell" rating in a report on Saturday. Needham & Company LLC began coverage on shares of Red Cat in a report on Friday. They issued a "buy" rating and a $17.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Red Cat in a report on Saturday, September 27th. Finally, Northland Securities set a $16.00 price objective on shares of Red Cat in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $16.50.

Red Cat Trading Up 11.9%

NASDAQ:RCAT opened at $12.89 on Thursday. Red Cat has a twelve month low of $2.66 and a twelve month high of $15.27. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -23.87 and a beta of 1.45. The firm's fifty day simple moving average is $9.64 and its 200 day simple moving average is $7.85.

Insider Buying and Selling at Red Cat

In other news, Director Christopher R. Moe sold 10,000 shares of the business's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $10.91, for a total value of $109,100.00. Following the completion of the sale, the director owned 53,073 shares of the company's stock, valued at approximately $579,026.43. The trade was a 15.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 86,833 shares of company stock valued at $861,560. 15.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Red Cat

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of Red Cat by 407.0% in the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock worth $44,000 after purchasing an additional 2,727 shares during the last quarter. California State Teachers Retirement System bought a new stake in shares of Red Cat in the 2nd quarter worth about $34,000. Caitong International Asset Management Co. Ltd increased its position in shares of Red Cat by 28,681.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,044 shares of the company's stock worth $44,000 after purchasing an additional 6,023 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Red Cat by 1,537.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,220 shares of the company's stock valued at $53,000 after buying an additional 6,779 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Red Cat during the 2nd quarter valued at about $56,000. Institutional investors own 37.97% of the company's stock.

Red Cat Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.