Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) Director Paul Funk II sold 165,028 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $11.50, for a total value of $1,897,822.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Red Cat Stock Up 7.1%
Red Cat stock opened at $11.97 on Tuesday. Red Cat Holdings, Inc. has a 52-week low of $5.77 and a 52-week high of $18.78. The company has a market cap of $1.47 billion, a P/E ratio of -17.10 and a beta of 1.23. The business has a 50-day simple moving average of $11.73 and a two-hundred day simple moving average of $11.87.
Red Cat (NASDAQ:RCAT - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.10). The business had revenue of $15.47 million during the quarter, compared to the consensus estimate of $17.63 million. Red Cat had a negative return on equity of 35.86% and a negative net margin of 138.36%.The company's revenue was up 849.1% on a year-over-year basis. Research analysts anticipate that Red Cat Holdings, Inc. will post -0.68 EPS for the current fiscal year.
Institutional Trading of Red Cat
Several institutional investors and hedge funds have recently added to or reduced their stakes in RCAT. Arizona State Retirement System lifted its holdings in Red Cat by 3.0% in the 4th quarter. Arizona State Retirement System now owns 29,311 shares of the company's stock worth $232,000 after purchasing an additional 855 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Red Cat by 0.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,084 shares of the company's stock worth $1,325,000 after purchasing an additional 1,147 shares during the period. Advisory Services Network LLC grew its holdings in Red Cat by 5.3% during the 3rd quarter. Advisory Services Network LLC now owns 30,200 shares of the company's stock valued at $313,000 after buying an additional 1,507 shares in the last quarter. Western Wealth Management LLC raised its position in shares of Red Cat by 4.5% during the first quarter. Western Wealth Management LLC now owns 36,722 shares of the company's stock valued at $481,000 after buying an additional 1,570 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of 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 buying an additional 1,720 shares during the last quarter. Institutional investors own 37.97% of the company's stock.
Wall Street Analysts Forecast Growth
RCAT has been the topic of several analyst reports. Wall Street Zen upgraded shares of Red Cat from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 6th. Clear Str upgraded Red Cat to a "strong-buy" rating in a research note on Wednesday, April 29th. LADENBURG THALM/SH SH upgraded Red Cat to a "strong-buy" rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Red Cat in a report on Tuesday, April 21st. Finally, Needham & Company LLC upped their price target on Red Cat from $16.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $21.40.
Read Our Latest Stock Report on RCAT
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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