Key Points
- CEO Jeffrey Thompson sold 150,000 Red Cat shares at an average price of $4.51, generating $676,500. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 11.56 million shares.
- Red Cat shares opened at $4.68 and remain near their 12-month low of $4.41, well below their 50-day and 200-day moving averages. The company recently reported a quarterly loss of $0.26 per share and revenue below analyst expectations.
- Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $16.71 price target. Institutional investors own approximately 38% of the company.
Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) CEO Jeffrey Thompson sold 150,000 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $4.51, for a total transaction of $676,500.00. Following the sale, the chief executive officer directly owned 11,562,202 shares of the company's stock, valued at $52,145,531.02. The trade was a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Red Cat Stock Down 0.8%
Shares of Red Cat stock opened at $4.68 on Tuesday. The company's fifty day simple moving average is $7.66 and its two-hundred day simple moving average is $9.56. Red Cat Holdings, Inc. has a 12-month low of $4.41 and a 12-month high of $18.78. The firm has a market cap of $574.42 million, a PE ratio of -5.78 and a beta of 1.51.
Red Cat (NASDAQ:RCAT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.05). The firm had revenue of $20.20 million during the quarter, compared to analysts' expectations of $22.65 million. Red Cat had a negative net margin of 136.26% and a negative return on equity of 32.25%. As a group, sell-side analysts expect that Red Cat Holdings, Inc. will post -0.79 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Red Cat
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP bought a new position in Red Cat in the second quarter worth about $28,000. Fifth Third Bancorp bought a new stake in Red Cat during the 1st quarter valued at approximately $33,000. NFSG Corp boosted its position in Red Cat by 200.0% during the 1st quarter. NFSG Corp now owns 3,000 shares of the company's stock valued at $39,000 after acquiring an additional 2,000 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Red Cat by 294.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the company's stock worth $40,000 after acquiring an additional 2,271 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Red Cat during the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 37.97% of the company's stock.
Wall Street Analyst Weigh In
RCAT has been the topic of a number of research analyst reports. Northland Securities set a $13.00 price target on Red Cat in a report on Thursday, September 17th. Piper Sandler initiated coverage on Red Cat in a research report on Wednesday, September 2nd. They set a "neutral" rating and a $9.00 price target for the company. Wall Street Zen lowered Red Cat from a "sell" rating to a "strong sell" rating in a research report on Saturday, July 18th. Needham & Company LLC reduced their target price on Red Cat from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Red Cat in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.71.
Check Out Our Latest Research Report on RCAT
Red Cat Company Profile
(
Get Free Report)
Red Cat Holdings, Inc is a drone technology company that develops and supplies unmanned aircraft systems for defense, government, public safety and commercial applications. The company focuses on autonomous and remotely operated aerial systems designed to support intelligence, surveillance and reconnaissance missions, including operations in contested or GPS-denied environments.
Red Cat's product portfolio includes the Teal 2 small unmanned aircraft system, a compact drone designed for close-range reconnaissance and situational awareness.
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