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

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

Red Cat Stock Up 2.5 %

RCAT stock opened at $4.94 on Tuesday. The company has a market cap of $396.00 million, a PE ratio of -9.15 and a beta of 1.32. 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 twelve month low of $0.70 and a twelve month high of $15.27. The business’s 50-day simple moving average is $8.89 and its 200 day simple moving average is $6.55.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings results on Monday, December 16th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm posted ($0.11) EPS. On average, research analysts anticipate that Red Cat will post -0.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of Red Cat stock in a transaction that occurred 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 completion of the transaction, the director now owns 681,072 shares in the company, valued at approximately $5,646,086.88. The trade was a 32.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider George Michael Matus sold 309,491 shares of Red Cat stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $14.27, for a total transaction of $4,416,436.57. Following the completion of the transaction, the insider now owns 304,406 shares of the company’s stock, valued at $4,343,873.62. This trade represents a 50.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,930,441 shares of company stock worth $21,099,751 over the last quarter. Company insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RCAT. Silver Oak Securities Incorporated raised its position in Red Cat by 502.3% in the 4th quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company’s stock worth $856,000 after purchasing an additional 50,668 shares during the last quarter. Centiva Capital LP bought a new position in Red Cat in the 3rd quarter worth approximately $207,000. N.E.W. Advisory Services LLC bought a new position in Red Cat in the 4th quarter worth approximately $423,000. Wolverine Trading LLC bought a new position in Red Cat in the 3rd quarter worth approximately $233,000. Finally, Corsair Capital Management L.P. bought a new position in Red Cat in the 3rd quarter worth approximately $308,000. Institutional investors 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.