Weiss Ratings Reiterates "Sell (D-)" Rating for Red Cat (NASDAQ:RCAT)

Red Cat (NASDAQ:RCAT - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also commented on RCAT. Needham & Company LLC started coverage on Red Cat in a research report on Friday, October 3rd. They set a "buy" rating and a $17.00 price objective for the company. Northland Securities set a $16.00 price objective on Red Cat in a research report on Friday, August 15th. LADENBURG THALM/SH SH raised Red Cat to a "strong-buy" rating in a research report on Thursday, October 2nd. Finally, Wall Street Zen lowered Red Cat from a "hold" rating to a "sell" rating in a research report on Saturday, October 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Red Cat presently has an average rating of "Buy" and a consensus price target of $16.50.

Red Cat Stock Down 3.0%

Shares of RCAT stock opened at $14.35 on Wednesday. The stock has a fifty day moving average of $10.00 and a 200 day moving average of $8.04. Red Cat has a 52 week low of $2.66 and a 52 week high of $15.53. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -26.57 and a beta of 1.45.

Insider Buying and Selling at Red Cat

In other news, Director Christopher R. Moe sold 30,000 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $10.11, for a total transaction of $303,300.00. Following the completion of the transaction, the director directly owned 73,073 shares in the company, valued at $738,768.03. This trade represents a 29.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 86,833 shares of company stock worth $861,560 in the last ninety days. 15.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Red Cat

Several institutional investors and hedge funds have recently modified their holdings of the stock. AWM Investment Company Inc. increased its holdings in shares of Red Cat by 15.3% during the second quarter. AWM Investment Company Inc. now owns 2,037,616 shares of the company's stock valued at $14,834,000 after acquiring an additional 269,942 shares in the last quarter. Geode Capital Management LLC increased its holdings in Red Cat by 142.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,656,720 shares of the company's stock worth $12,063,000 after buying an additional 974,121 shares in the last quarter. Captrust Financial Advisors increased its holdings in Red Cat by 30.9% in the 2nd quarter. Captrust Financial Advisors now owns 820,279 shares of the company's stock worth $5,972,000 after buying an additional 193,853 shares in the last quarter. Apis Capital Advisors LLC increased its holdings in Red Cat by 4.9% in the 1st quarter. Apis Capital Advisors LLC now owns 682,000 shares of the company's stock worth $4,010,000 after buying an additional 32,000 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Red Cat by 125.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 517,061 shares of the company's stock worth $3,764,000 after buying an additional 287,802 shares in the last quarter. 37.97% of the stock is currently owned by institutional investors.

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.

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