Raymond James Financial Inc. Makes New Investment in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Raymond James Financial Inc. acquired a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 37,214 shares of the company’s stock, valued at approximately $478,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Red Cat by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company’s stock valued at $32,197,000 after buying an additional 207,727 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Red Cat in the 4th quarter valued at approximately $1,527,000. Arrowstreet Capital Limited Partnership acquired a new stake in Red Cat during the 4th quarter valued at $1,368,000. LPL Financial LLC increased its position in Red Cat by 497.2% during the fourth quarter. LPL Financial LLC now owns 74,008 shares of the company’s stock worth $951,000 after buying an additional 61,615 shares in the last quarter. Finally, Silver Oak Securities Incorporated lifted its position 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 acquiring an additional 50,668 shares in the last quarter. 37.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RCAT shares. Northland Securities initiated coverage on shares of Red Cat in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $13.00 target price for the company. Northland Capmk upgraded shares of Red Cat to a “strong-buy” rating in a report on Monday, March 10th.

Red Cat Trading Up 5.9 %

NASDAQ RCAT opened at $5.70 on Friday. The firm has a market capitalization of $515.94 million, a price-to-earnings ratio of -10.56 and a beta of 1.37. 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 one year low of $0.80 and a one year high of $15.27. The company’s 50 day moving average price is $5.66 and its 200 day moving average price is $7.31.

About Red Cat

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.