Geode Capital Management LLC recently announced the acquisition of new stake in Red Cat Holdings Inc. (NASDAQ:RCAT). The institutional investor has increased its shareholding in the Technology company by 4.15% to 0.26 million shares with purchase of 10454.0 shares. This fresh investment now brings its stake to 0.48% valued currently at $0.25 million. In addition, UMB Bank, NA raised its holdings by 100000.0 to 0.24 million shares. And Susquehanna Financial Group LLLP has lifted its position by 63.98% or 30498.0 shares – to 78163.0 shares.
With over 0.11 million Red Cat Holdings Inc. (RCAT) shares trading Tuesday and a closing price of $1.19 on the day, the dollar volume was approximately $0.14 million. The shares have shown a negative half year performance of -44.65% and its price on 01/24/23 gained nearly 3.48%. Currently, there are 54.08M common shares owned by the public and among those 34.70M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for RCAT have a consensus price objective of $8.00. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $8.00. The average price target is 85.12% above its recent price level and an upside to the estimated low will see the stock gain 85.12% over that period. But an upside of 85.12% will see the stock hit the forecast high price target while median target price for the stock is $8.00.
Insiders at the company have transacted a total of 75 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 55 of these insider trades were purchases, accounting for 1,045,318 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 376,456 shares.
The top 3 mutual fund holders in Red Cat Holdings Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.85 million shares of the company’s stock, all valued at over $0.8 million. Vanguard Extended Market Index Fu bought 590.0 shares to see its total holdings expand to 0.38 million shares valued at over $0.36 million and representing 0.70% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.26% of the shares outstanding.
However, the script later moved the day high at 1.2000, up 3.48%. The company’s stock has a 5-day price change of 0.85% and -19.05% over the past three months. RCAT shares are trading 26.60% year to date (YTD), with the 12-month market performance down to -29.17% lower. It has a 12-month low price of $0.77 and touched a high of $2.92 over the same period. RCAT has an average intraday trading volume of 174.30K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 21.46%, 11.18%, and -30.51% respectively.
Institutional ownership of Red Cat Holdings Inc. (NASDAQ: RCAT) shares accounts for 9.40% of the company’s 54.08M shares outstanding. Mutual fund holders own 4.58%, while other institutional holders and individual stakeholders account for 46.03% and 2.92% respectively.
It has a market capitalization of $67.07M and a beta (3y monthly) value of 0.56. The earnings-per-share (ttm) stands at -$0.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.25% over the week and 7.10% over the month.
Analysts forecast that Red Cat Holdings Inc. (RCAT) will achieve an EPS of -$0.04 for the current quarter, -$0.03 for the next quarter and $0.06 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.04 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 56.70%, and 150.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Red Cat Holdings Inc. (RCAT) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”