Analysts Set Red Cat Holdings, Inc. (NASDAQ:RCAT) Target Price at $14.00

Red Cat Holdings, Inc. (NASDAQ:RCAT) has received an average recommendation of “Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.00.

RCAT has been the topic of a number of recent research reports. LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a research note on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a report on Wednesday, October 8th. Needham & Company LLC increased their price objective on shares of Red Cat from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Red Cat from a “hold” rating to a “sell” rating in a research note on Saturday, October 4th.

Red Cat Stock Performance

Shares of RCAT stock opened at $13.67 on Monday. Red Cat has a fifty-two week low of $4.58 and a fifty-two week high of $16.70. The stock’s fifty day moving average price is $8.71 and its two-hundred day moving average price is $9.60. The company has a market cap of $1.63 billion, a PE ratio of -31.07 and a beta of 1.48.

Red Cat (NASDAQ:RCAT) last posted its earnings results on Thursday, November 13th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The firm had revenue of $9.65 million for the quarter, compared to analysts’ expectations of $8.18 million. On average, equities analysts predict that Red Cat will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Cat

Several hedge funds have recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in Red Cat by 181.1% during the third quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after acquiring an additional 1,720 shares during the period. Montag A & Associates Inc. raised its holdings in Red Cat by 552.0% during the 3rd quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock valued at $34,000 after acquiring an additional 2,760 shares during the period. California State Teachers Retirement System bought a new position in shares of Red Cat in the second quarter worth $34,000. Global Retirement Partners LLC purchased a new position in Red Cat during the third quarter valued at approximately $36,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings 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 valued at $44,000 after acquiring an additional 6,023 shares in the last quarter. Institutional investors own 37.97% of the company’s stock.

About Red Cat

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.