Squarepoint Ops LLC Increases Stock Holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Squarepoint Ops LLC increased its holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT) by 23.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,496 shares of the company’s stock after buying an additional 2,902 shares during the period. Squarepoint Ops LLC’s holdings in Red Cat were worth $199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RCAT. Twin Tree Management LP acquired a new position in shares of Red Cat during the 4th quarter worth approximately $28,000. Bank of America Corp DE boosted its stake in Red Cat by 407.0% in the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock worth $44,000 after buying an additional 2,727 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Red Cat during the 4th quarter valued at about $48,000. SBI Securities Co. Ltd. acquired a new position 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 worth $114,000 after acquiring an additional 8,344 shares during the period. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Red Cat Trading Up 11.5%

NASDAQ RCAT opened at $8.16 on Monday. The firm has a market capitalization of $741.87 million, a price-to-earnings ratio of -15.11 and a beta of 1.40. 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 $0.81 and a one year high of $15.27. The company’s 50 day moving average price is $6.15 and its 200 day moving average price is $7.78.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on RCAT. Northland Capmk upgraded Red Cat to a “strong-buy” rating in a report on Monday, March 10th. Northland Securities initiated coverage on Red Cat in a research note on Tuesday, March 11th. They set an “outperform” rating and a $13.00 price target for the company.

Red Cat Company 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.