Red Cat (NASDAQ:RCAT) Upgraded by Northland Capmk to “Strong-Buy” Rating

Northland Capmk upgraded shares of Red Cat (NASDAQ:RCAT) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Northland Securities initiated coverage on shares of Red Cat in a research note on Tuesday. They set an “outperform” rating and a $13.00 price objective for the company.

Red Cat Stock Up 2.5 %

Shares of NASDAQ:RCAT opened at $4.94 on Monday. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. Red Cat has a fifty-two week low of $0.70 and a fifty-two week high of $15.27. The stock has a market cap of $396.00 million, a price-to-earnings ratio of -9.15 and a beta of 1.32. The firm’s 50 day moving average price is $8.89 and its 200 day moving average price is $6.55.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings results on Monday, December 16th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.27). Red Cat had a negative net margin of 232.62% and a negative return on equity of 96.00%. During the same period last year, the firm earned ($0.11) earnings per share. As a group, equities research analysts predict that Red Cat will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Red Cat

In other Red Cat news, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $8.29, for a total value of $2,726,813.12. Following the transaction, the director now owns 681,072 shares in the company, valued at $5,646,086.88. The trade was a 32.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider George Michael Matus sold 112,686 shares of Red Cat stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $9.20, for a total transaction of $1,036,711.20. Following the completion of the sale, the insider now owns 973,103 shares of the company’s stock, valued at approximately $8,952,547.60. This trade represents a 10.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,930,441 shares of company stock valued at $21,099,751 over the last ninety days. Corporate insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Red Cat

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Waddell & Associates LLC purchased a new position in shares of Red Cat during the fourth quarter valued at $159,643,000. Vanguard Group Inc. boosted its position in shares of Red Cat by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company’s stock valued at $32,197,000 after acquiring an additional 207,727 shares during the period. Apis Capital Advisors LLC grew its position in Red Cat by 61.7% during the fourth quarter. Apis Capital Advisors LLC now owns 650,000 shares of the company’s stock worth $8,352,000 after buying an additional 248,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in Red Cat by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 602,596 shares of the company’s stock worth $7,747,000 after buying an additional 10,594 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Red Cat in the 4th quarter valued at approximately $6,628,000. 37.97% of the stock is owned by institutional investors and hedge funds.

Red Cat Company Profile

Red Cat Holdings, Inc engages in the provision of various products, services, and solutions to the drone industry. The company operates through two segments: Enterprise and Consumer. It built infrastructure to manages drone fleets and fly, and provide services remotely, navigate confined industrial interior spaces and dangerous military environment.