Red Cat (NASDAQ:RCAT) Now Covered by Northland Securities

Northland Securities started coverage on shares of Red Cat (NASDAQ:RCAT) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $13.00 target price on the stock.

Red Cat Price Performance

RCAT opened at $4.94 on Tuesday. The company has a fifty day moving average price of $8.89 and a two-hundred day moving average price of $6.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43. Red Cat has a 52 week low of $0.70 and a 52 week high of $15.27. The firm has a market capitalization of $396.00 million, a PE ratio of -9.15 and a beta of 1.32.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings results on Monday, December 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business posted ($0.11) earnings per share. As a group, analysts anticipate that Red Cat will post -0.5 earnings per share for the current year.

Insider Activity

In related news, CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $10.44, for a total value of $1,188,312.12. Following the sale, the executive now directly owns 558,325 shares of the company’s stock, valued at approximately $5,828,913. The trade was a 16.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $2,726,813.12. Following the completion of the sale, the director now directly owns 681,072 shares in the company, valued at $5,646,086.88. This represents a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,930,441 shares of company stock valued at $21,099,751 in the last quarter. Company insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Red Cat

Several institutional investors have recently added to or reduced their stakes in RCAT. Sanctuary Advisors LLC bought a new stake in Red Cat during the 3rd quarter worth about $25,000. Twin Tree Management LP bought a new stake in Red Cat during the 4th quarter worth about $28,000. Bank of America Corp DE lifted its position in Red Cat by 407.0% during the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock worth $44,000 after buying an additional 2,727 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in Red Cat during the 4th quarter worth about $48,000. Finally, SBI Securities Co. Ltd. bought a new stake in Red Cat during the 4th quarter worth about $60,000. 37.97% of the stock is owned by institutional investors.

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.