LPL Financial LLC Grows Stock Holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT)

LPL Financial LLC grew its position in Red Cat Holdings, Inc. (NASDAQ:RCAT) by 497.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,008 shares of the company’s stock after buying an additional 61,615 shares during the quarter. LPL Financial LLC owned 0.09% of Red Cat worth $951,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in Red Cat by 44.9% in the 3rd quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after acquiring an additional 68,800 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in shares of Red Cat by 502.3% in the fourth quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company’s stock valued at $856,000 after purchasing an additional 50,668 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in Red Cat during the 4th quarter worth approximately $554,000. Raymond James Financial Inc. acquired a new stake in Red Cat during the 4th quarter worth approximately $478,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Red Cat in the 4th quarter valued at approximately $423,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on RCAT shares. Northland Capmk raised Red Cat to a “strong-buy” rating in a research report on Monday, March 10th. Northland Securities initiated coverage on 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 Trading Down 1.0 %

Shares of NASDAQ:RCAT opened at $5.13 on Monday. Red Cat Holdings, Inc. has a 52 week low of $0.80 and a 52 week high of $15.27. The company’s 50 day moving average is $6.38 and its two-hundred day moving average is $7.17. The company has a market cap of $440.06 million, a PE ratio of -9.50 and a beta of 1.34. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30.

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.