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

Northland Securities began coverage on shares of Red Cat (NASDAQ:RCAT) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $13.00 price target on the stock. Northland Securities’ target price points to a potential upside of 162.63% from the company’s previous close.

Red Cat Stock Up 0.2 %

Shares of Red Cat stock opened at $4.95 on Tuesday. Red Cat has a one year low of $0.70 and a one year high of $15.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60. The stock’s 50-day moving average is $8.73 and its 200 day moving average is $6.54. The firm has a market cap of $396.80 million, a price-to-earnings ratio of -9.17 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 return on equity of 96.00% and a negative net margin of 232.62%. During the same period in the prior year, the business posted ($0.11) earnings per share. Equities research analysts anticipate that Red Cat will post -0.5 EPS for the current year.

Insiders Place Their Bets

In other news, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $8.29, for a total value of $2,726,813.12. Following the completion of the sale, the director now directly owns 681,072 shares of the company’s stock, valued at $5,646,086.88. This represents a 32.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider George Michael Matus sold 112,686 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $9.20, for a total value of $1,036,711.20. Following the completion of the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,930,441 shares of company stock worth $21,099,751. Corporate insiders own 21.50% of the company’s stock.

Institutional Trading of Red Cat

Several institutional investors and hedge funds have recently modified their holdings of RCAT. Waddell & Associates LLC purchased a new stake in shares of Red Cat in the fourth quarter worth approximately $159,643,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Red Cat in the fourth quarter worth approximately $6,628,000. Captrust Financial Advisors purchased a new stake in shares of Red Cat during the fourth quarter valued at approximately $4,262,000. Apis Capital Advisors LLC increased its position in shares of Red Cat by 61.7% during the fourth quarter. Apis Capital Advisors LLC now owns 650,000 shares of the company’s stock valued at $8,352,000 after acquiring an additional 248,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Red Cat by 9.0% during 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 last quarter. 37.97% of the stock is owned by hedge funds and other 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.