Red Cat’s (RCAT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Red Cat (NASDAQ:RCAT) in a research note published on Monday,Benzinga reports. They currently have a $16.00 price target on the stock.

Other analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a report on Thursday, January 22nd. Northland Securities set a $22.00 price target on Red Cat in a research report on Tuesday, January 20th. Finally, LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a research report on Thursday, December 18th. One analyst has 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 data from MarketBeat, Red Cat presently has a consensus rating of “Moderate Buy” and an average price target of $19.33.

Red Cat Stock Performance

Shares of RCAT stock opened at $14.73 on Monday. The stock has a 50 day simple moving average of $12.47 and a two-hundred day simple moving average of $10.65. Red Cat has a fifty-two week low of $4.58 and a fifty-two week high of $18.02. The company has a market cap of $1.76 billion, a P/E ratio of -33.48 and a beta of 1.53.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. IFP Advisors Inc increased its stake in shares of Red Cat by 181.1% in the third quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after buying an additional 1,720 shares during the period. Montag A & Associates Inc. increased its position in shares of Red Cat by 552.0% in the third 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. Bank of America Corp DE raised its stake in shares of Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock valued at $44,000 after acquiring an additional 2,727 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Red Cat during the third quarter valued at about $36,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Red Cat during the third quarter worth about $46,000. 37.97% of the stock is owned by hedge funds and other institutional investors.

Red Cat Company Profile

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.