Geode Capital Management LLC Has $7.75 Million Position in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Geode Capital Management LLC raised its stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 602,596 shares of the company’s stock after buying an additional 10,594 shares during the quarter. Geode Capital Management LLC owned 0.75% of Red Cat worth $7,747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new position in shares of Red Cat in the third quarter worth $25,000. Twin Tree Management LP acquired a new position in Red Cat in the 4th quarter worth about $28,000. Mark Sheptoff Financial Planning LLC acquired a new position in Red Cat in the 4th quarter worth about $48,000. SBI Securities Co. Ltd. acquired a new stake in shares of Red Cat during the 4th quarter valued at about $60,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Red Cat by 1,536.6% during the 4th quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company’s stock valued at $114,000 after buying an additional 8,344 shares during the last quarter. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Red Cat Stock Performance

Shares of NASDAQ RCAT opened at $5.28 on Friday. The business’s 50-day simple moving average is $6.04 and its 200-day simple moving average is $7.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43. Red Cat Holdings, Inc. has a 52 week low of $0.80 and a 52 week high of $15.27. The firm has a market cap of $452.93 million, a price-to-earnings ratio of -9.78 and a beta of 1.34.

Analyst Ratings Changes

RCAT has been the topic of a number of research reports. Northland Capmk upgraded Red Cat to a “strong-buy” rating in a report on Monday, March 10th. Northland Securities assumed coverage on shares of Red Cat in a research note 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.