Red Cat (RCAT) Expected to Announce Quarterly Earnings on Monday

Red Cat (NASDAQ:RCAT - Get Free Report) is expected to post its quarterly earnings results before the market opens on Monday, March 17th. Analysts expect Red Cat to post earnings of ($0.09) per share and revenue of $7.49 million for the quarter.

Red Cat (NASDAQ:RCAT - Get Free Report) 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 period in the previous year, the company posted ($0.11) EPS. On average, analysts expect Red Cat to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Red Cat Stock Performance

Shares of NASDAQ:RCAT traded down $0.64 during trading on Tuesday, hitting $5.15. 4,271,687 shares of the company were exchanged, compared to its average volume of 3,853,894. The company has a market cap of $440.93 million, a PE ratio of -9.54 and a beta of 1.32. The stock has a 50 day moving average of $8.28 and a 200 day moving average of $6.62. Red Cat has a 52-week low of $0.70 and a 52-week 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.

Insider Activity at Red Cat

In other news, Director Joseph David Freedman sold 15,000 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $14.24, for a total transaction of $213,600.00. Following the transaction, the director now directly owns 585,190 shares of the company's stock, valued at approximately $8,333,105.60. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider George Michael Matus sold 309,491 shares of the firm's stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $14.27, for a total value of $4,416,436.57. Following the completion of the sale, the insider now directly owns 304,406 shares in the company, valued at $4,343,873.62. The trade was a 50.41 % 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 valued at $21,099,751 over the last 90 days. 21.50% of the stock is owned by insiders.

Remove Ads

Institutional Trading of Red Cat

A hedge fund recently raised its stake in Red Cat stock. Bank of America Corp DE grew its holdings in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 407.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,397 shares of the company's stock after purchasing an additional 2,727 shares during the period. Bank of America Corp DE's holdings in Red Cat were worth $44,000 as of its most recent SEC filing. Institutional investors and hedge funds own 37.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RCAT. Northland Securities began coverage on Red Cat in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $13.00 price objective on the stock. Northland Capmk upgraded Red Cat to a "strong-buy" rating in a research report on Monday, March 10th.

About Red Cat

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.