EVR Research LP Takes Position in Red Cat Holdings, Inc. $RCAT

EVR Research LP bought a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 215,000 shares of the company’s stock, valued at approximately $1,705,000. Red Cat comprises approximately 0.9% of EVR Research LP’s portfolio, making the stock its 28th biggest holding. EVR Research LP owned about 0.18% of Red Cat at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Arizona State Retirement System lifted its position in Red Cat by 3.0% in the fourth quarter. Arizona State Retirement System now owns 29,311 shares of the company’s stock worth $232,000 after buying an additional 855 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Red Cat by 0.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,084 shares of the company’s stock worth $1,325,000 after buying an additional 1,147 shares during the last quarter. Advisory Services Network LLC lifted its position in Red Cat by 5.3% in the third quarter. Advisory Services Network LLC now owns 30,200 shares of the company’s stock worth $313,000 after buying an additional 1,507 shares during the last quarter. IFP Advisors Inc lifted its position in Red Cat by 181.1% in the third quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after buying an additional 1,720 shares during the last quarter. Finally, Western Wealth Management LLC lifted its position in Red Cat by 6.1% in the fourth quarter. Western Wealth Management LLC now owns 35,152 shares of the company’s stock worth $279,000 after buying an additional 2,006 shares during the last quarter. 37.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RCAT has been the subject of a number of analyst reports. UBS Group initiated coverage on Red Cat in a research report on Wednesday, May 27th. They issued a “buy” rating for the company. Needham & Company LLC raised their price target on Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Clear Str upgraded Red Cat to a “strong-buy” rating in a research report on Wednesday, April 29th. HC Wainwright began coverage on Red Cat in a research report on Wednesday, May 27th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $21.40.

Red Cat Stock Up 2.8%

RCAT stock opened at $11.20 on Thursday. The business’s fifty day simple moving average is $11.65 and its two-hundred day simple moving average is $11.92. Red Cat Holdings, Inc. has a twelve month low of $5.77 and a twelve month high of $18.78. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -16.00 and a beta of 1.23.

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

Insiders Place Their Bets

In other Red Cat news, Director Paul Funk II sold 165,028 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $11.50, for a total value of $1,897,822.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.50% of the stock is currently owned by insiders.

Red Cat 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.