Red Cat (NASDAQ:RCAT) Director Sells $1,897,822.00 in Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Paul Funk II sold 165,028 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $11.50, for a total transaction of $1,897,822.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Red Cat Stock Up 2.8%

RCAT opened at $11.20 on Thursday. The stock has a market cap of $1.37 billion, a PE ratio of -16.00 and a beta of 1.23. Red Cat Holdings, Inc. has a 52 week low of $5.77 and a 52 week high of $18.78. The business’s fifty day simple moving average is $11.65 and its 200 day simple moving average is $11.92.

Red Cat (NASDAQ:RCAT) last released its earnings results on Thursday, May 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). The firm had revenue of $15.47 million during the quarter, compared to the consensus estimate of $17.63 million. Red Cat had a negative net margin of 138.36% and a negative return on equity of 35.86%. Red Cat’s revenue was up 849.1% compared to the same quarter last year. As a group, equities analysts anticipate that Red Cat Holdings, Inc. will post -0.68 earnings per share for the current year.

Institutional Investors Weigh In On Red Cat

A number of large investors have recently added to or reduced their stakes in the stock. Brevan Howard Capital Management LP bought a new stake in shares of Red Cat during the 3rd quarter valued at $19,739,000. Tudor Investment Corp ET AL grew its position in shares of Red Cat by 214.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,277,523 shares of the company’s stock valued at $13,222,000 after acquiring an additional 870,612 shares during the period. Vanguard Group Inc. grew its position in shares of Red Cat by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 6,000,037 shares of the company’s stock valued at $47,580,000 after acquiring an additional 493,660 shares during the period. UBS Group AG grew its position in shares of Red Cat by 37.7% during the 4th quarter. UBS Group AG now owns 580,099 shares of the company’s stock valued at $4,600,000 after acquiring an additional 158,864 shares during the period. Finally, CenterBook Partners LP bought a new stake in shares of Red Cat during the 3rd quarter valued at $580,000. Institutional investors own 37.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RCAT. Needham & Company LLC raised their price objective on Red Cat from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. HC Wainwright assumed coverage on shares of Red Cat in a report on Wednesday, May 27th. They issued a “buy” rating and a $20.00 price objective for the company. LADENBURG THALM/SH SH upgraded shares of Red Cat to a “strong-buy” rating in a report on Wednesday, May 6th. Clear Str upgraded shares of Red Cat to a “strong-buy” rating in a report on Wednesday, April 29th. Finally, UBS Group started coverage on shares of Red Cat in a report on Wednesday, May 27th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Red Cat has an average rating of “Buy” and an average price target of $21.40.

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.