Red Cat (NASDAQ:RCAT) Upgraded to Strong-Buy at Northland Capmk

Red Cat (NASDAQ:RCAT) was upgraded by equities research analysts at Northland Capmk to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Separately, Northland Securities assumed coverage on shares of Red Cat in a research report on Tuesday. They issued an “outperform” rating and a $13.00 price target for the company.

Red Cat Price Performance

NASDAQ RCAT opened at $4.94 on Monday. 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 fifty day moving average price is $8.89 and its 200 day moving average price is $6.55. Red Cat has a 1 year low of $0.70 and a 1 year high of $15.27. The company has a market cap of $396.00 million, a price-to-earnings ratio of -9.15 and a beta of 1.32.

Red Cat (NASDAQ:RCAT) last posted its 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 quarter in the previous year, the business earned ($0.11) EPS. As a group, equities research analysts forecast that Red Cat will post -0.5 earnings per share for the current year.

Insider Buying and Selling

In other Red Cat news, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 681,072 shares of the company’s stock, valued at $5,646,086.88. The trade was a 32.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider George Michael Matus sold 112,686 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $8,952,547.60. The trade was a 10.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,930,441 shares of company stock valued at $21,099,751. Insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Red Cat

Several large investors have recently made changes to their positions in the company. Silver Oak Securities Incorporated boosted its stake in shares of Red Cat by 502.3% in the 4th quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company’s stock valued at $856,000 after purchasing an additional 50,668 shares during the last quarter. Centiva Capital LP bought a new position in shares of Red Cat during the 3rd quarter worth approximately $207,000. N.E.W. Advisory Services LLC bought a new position in shares of Red Cat in the fourth quarter valued at $423,000. Wolverine Trading LLC bought a new position in shares of Red Cat in the third quarter valued at $233,000. Finally, Corsair Capital Management L.P. bought a new position in Red Cat during the third quarter worth $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.