100,000 Shares in Red Cat Holdings, Inc. $RCAT Purchased by MYDA Advisors LLC

MYDA Advisors LLC bought a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $793,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Arizona State Retirement System raised its holdings in Red Cat by 3.0% during the fourth quarter. Arizona State Retirement System now owns 29,311 shares of the company’s stock worth $232,000 after acquiring an additional 855 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Red Cat by 0.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,084 shares of the company’s stock worth $1,325,000 after acquiring an additional 1,147 shares in the last quarter. Advisory Services Network LLC raised its holdings in Red Cat by 5.3% during the third quarter. Advisory Services Network LLC now owns 30,200 shares of the company’s stock worth $313,000 after acquiring an additional 1,507 shares in the last quarter. IFP Advisors Inc raised its holdings 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 in the last quarter. Finally, Western Wealth Management LLC raised its holdings in Red Cat by 6.1% during the fourth quarter. Western Wealth Management LLC now owns 35,152 shares of the company’s stock worth $279,000 after acquiring an additional 2,006 shares in the last quarter. Institutional investors own 37.97% of the company’s stock.

Analyst Ratings Changes

RCAT has been the topic of several analyst reports. Roth Mkm initiated coverage on Red Cat in a report on Monday, June 1st. They set a “buy” rating and a $25.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a report on Tuesday, April 21st. Wall Street Zen upgraded Red Cat from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Clear Str upgraded Red Cat to a “strong-buy” rating in a report on Wednesday, April 29th. Finally, HC Wainwright started coverage on Red Cat in a report on Wednesday, May 27th. They set a “buy” rating and a $20.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Red Cat presently has an average rating of “Buy” and a consensus target price of $21.40.

Red Cat Price Performance

Shares of NASDAQ RCAT opened at $11.18 on Monday. The business’s 50 day moving average price is $11.75 and its two-hundred day moving average price is $11.83. The company has a market cap of $1.37 billion, a PE ratio of -15.97 and a beta of 1.23. Red Cat Holdings, Inc. has a twelve month low of $5.77 and a twelve month high of $18.78.

Red Cat (NASDAQ:RCAT) last announced its quarterly 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). The business had revenue of $15.47 million for the quarter, compared to analyst estimates of $17.63 million. Red Cat had a negative return on equity of 35.86% and a negative net margin of 138.36%.Red Cat’s revenue was up 849.1% compared to the same quarter last year. As a group, research analysts anticipate 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.