AWM Investment Company Inc. Sells 2,716,426 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT)

AWM Investment Company Inc. decreased its holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT) by 60.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,797,674 shares of the company’s stock after selling 2,716,426 shares during the quarter. Red Cat accounts for approximately 2.8% of AWM Investment Company Inc.’s investment portfolio, making the stock its 7th biggest holding. AWM Investment Company Inc.’s holdings in Red Cat were worth $23,100,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RCAT. Waddell & Associates LLC purchased a new stake in shares of Red Cat in the fourth quarter worth approximately $159,643,000. Rockefeller Capital Management L.P. bought a new stake in Red Cat during the fourth quarter worth $6,628,000. Captrust Financial Advisors purchased a new stake in Red Cat in the 4th quarter valued at $4,262,000. Apis Capital Advisors LLC lifted its stake in Red Cat by 61.7% during the 4th quarter. Apis Capital Advisors LLC now owns 650,000 shares of the company’s stock valued at $8,352,000 after acquiring an additional 248,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Red Cat by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company’s stock valued at $32,197,000 after acquiring an additional 207,727 shares in the last quarter. Institutional investors and hedge funds own 37.97% of the company’s stock.

Red Cat Stock Performance

RCAT stock opened at $6.78 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The firm has a market cap of $616.40 million, a PE ratio of -12.56 and a beta of 1.37. The business has a 50 day moving average of $5.88 and a 200-day moving average of $7.54. Red Cat Holdings, Inc. has a 12-month low of $0.80 and a 12-month high of $15.27.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.17). Red Cat had a negative net margin of 232.62% and a negative return on equity of 96.00%. As a group, sell-side analysts expect that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RCAT. Northland Capmk upgraded shares of Red Cat to a “strong-buy” rating in a research note on Monday, March 10th. Northland Securities began coverage on shares of Red Cat in a report on Tuesday, March 11th. They set an “outperform” rating and a $13.00 price target on the stock.

Red Cat Profile

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.