Red Cat Holdings, Inc. $RCAT Position Boosted by Erste Asset Management GmbH

Erste Asset Management GmbH raised its holdings in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 496.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,582 shares of the company’s stock after acquiring an additional 137,000 shares during the quarter. Erste Asset Management GmbH’s holdings in Red Cat were worth $1,285,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. CenterBook Partners LP grew its stake in shares of Red Cat by 1,872.4% in the 4th quarter. CenterBook Partners LP now owns 1,105,132 shares of the company’s stock valued at $8,764,000 after buying an additional 1,049,101 shares in the last quarter. State of Wyoming bought a new stake in shares of Red Cat in the 4th quarter valued at approximately $73,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Red Cat in the 4th quarter valued at approximately $159,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Red Cat in the 4th quarter valued at approximately $82,000. Finally, Kingsview Wealth Management LLC grew its stake in shares of Red Cat by 105.8% in the 4th quarter. Kingsview Wealth Management LLC now owns 27,885 shares of the company’s stock valued at $221,000 after buying an additional 14,338 shares in the last quarter. Institutional investors own 37.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a research note on Tuesday, April 21st. Roth Mkm assumed coverage on Red Cat in a research note on Monday, June 1st. They issued a “buy” rating and a $25.00 price target for the company. Needham & Company LLC boosted their price target on Red Cat from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Wall Street Zen raised Red Cat from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, UBS Group initiated coverage on Red Cat in a report on Wednesday, May 27th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $21.40.

Red Cat Stock Down 5.1%

Shares of RCAT stock opened at $10.90 on Thursday. Red Cat Holdings, Inc. has a 12 month low of $5.77 and a 12 month high of $18.78. The firm has a market cap of $1.34 billion, a PE ratio of -15.57 and a beta of 1.23. The stock has a 50 day moving average of $11.79 and a 200-day moving average of $11.77.

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). 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 for the quarter, compared to analyst estimates of $17.63 million. The company’s revenue was up 849.1% compared to the same quarter last year. As a group, equities analysts predict that Red Cat Holdings, Inc. will post -0.68 EPS for the current fiscal 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.