Red Cat (NASDAQ:RCAT) Coverage Initiated by Analysts at Northland Securities

Research analysts at Northland Securities assumed coverage on shares of Red Cat (NASDAQ:RCAT) in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $13.00 price target on the stock. Northland Securities’ price objective indicates a potential upside of 169.71% from the company’s current price.

Red Cat Stock Performance

Shares of RCAT stock opened at $4.82 on Tuesday. The stock’s 50-day moving average price is $9.05 and its 200 day moving average price is $6.54. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $386.38 million, a PE ratio of -8.93 and a beta of 1.32. Red Cat has a 52-week low of $0.70 and a 52-week high of $15.27.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Monday, December 16th. The company reported ($0.18) 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 previous year, the firm posted ($0.11) EPS. As a group, equities research analysts forecast that Red Cat will post -0.5 EPS for the current year.

Insider Transactions at Red Cat

In other Red Cat news, Director Joseph David Freedman sold 50,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the sale, the director now directly owns 635,190 shares in the company, valued at approximately $6,351,900. The trade was a 7.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $8.29, for a total transaction of $2,726,813.12. Following the transaction, the director now directly owns 681,072 shares in the company, valued at approximately $5,646,086.88. This trade represents a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,930,441 shares of company stock worth $21,099,751 over the last ninety days. 21.50% of the stock is currently owned by company insiders.

Institutional Trading of Red Cat

Several hedge funds and other institutional investors have recently made changes to their positions in RCAT. Squarepoint Ops LLC increased its holdings in Red Cat by 23.0% in the fourth quarter. Squarepoint Ops LLC now owns 15,496 shares of the company’s stock valued at $199,000 after buying an additional 2,902 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Red Cat during the 4th quarter valued at about $362,000. Tidal Investments LLC acquired a new position in Red Cat during the fourth quarter worth about $270,000. Nomura Holdings Inc. purchased a new stake in shares of Red Cat in the fourth quarter valued at about $180,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Red Cat in the fourth quarter valued at approximately $1,714,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

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.