Red Cat Holdings, Inc. $RCAT Shares Purchased by CenterBook Partners LP

CenterBook Partners LP lifted its stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) by 1,872.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,105,132 shares of the company’s stock after purchasing an additional 1,049,101 shares during the period. CenterBook Partners LP’s holdings in Red Cat were worth $8,764,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc raised its position in Red Cat by 181.1% during the third quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after acquiring an additional 1,720 shares during the last quarter. Montag A & Associates Inc. raised its position in Red Cat by 552.0% during the third quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock worth $34,000 after acquiring an additional 2,760 shares during the last quarter. California State Teachers Retirement System acquired a new position in Red Cat during the second quarter worth about $34,000. N.E.W. Advisory Services LLC raised its position in Red Cat by 163.5% during the fourth quarter. N.E.W. Advisory Services LLC now owns 5,356 shares of the company’s stock worth $42,000 after acquiring an additional 3,323 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock worth $44,000 after acquiring an additional 2,727 shares during the last quarter. Institutional investors and hedge funds own 37.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RCAT shares. HC Wainwright started coverage on shares of Red Cat in a research report on Wednesday, May 27th. They set a “buy” rating and a $20.00 target price for the company. Wall Street Zen upgraded shares of Red Cat from a “strong sell” rating to a “sell” rating in a research report on Saturday. UBS Group started coverage on shares of Red Cat in a research report on Wednesday, May 27th. They set a “buy” rating for the company. LADENBURG THALM/SH SH upgraded shares of Red Cat to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $21.40.

Red Cat Price Performance

Shares of NASDAQ RCAT opened at $12.68 on Monday. The company has a market cap of $1.56 billion, a PE ratio of -18.11 and a beta of 1.23. Red Cat Holdings, Inc. has a 12 month low of $5.77 and a 12 month high of $18.78. The company has a 50-day simple moving average of $11.86 and a 200-day simple moving average of $11.66.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). The firm had revenue of $15.47 million for the quarter, compared to analysts’ expectations of $17.63 million. Red Cat had a negative return on equity of 35.86% and a negative net margin of 138.36%.The company’s revenue was up 849.1% compared to the same quarter last year. On average, analysts anticipate that Red Cat Holdings, Inc. will post -0.68 EPS for the current year.

Red Cat Company Profile

Red Cat Holdings, Inc (NASDAQ: RCAT) is a technology holding company that develops and delivers advanced robotics, autonomy, and sensing solutions for defense, national security, public safety and commercial customers. Headquartered in American Fork, Utah, the company brings together a portfolio of specialized operating businesses focused on unmanned aerial systems (UAS), mission management software, precision mapping sensors and engineering services.

Through its UAS segment, Red Cat designs and manufactures small to medium-sized fixed-wing and vertical-takeoff drones that support intelligence, surveillance and reconnaissance (ISR) missions.