Wealth Enhancement Advisory Services LLC Takes Position in Red Cat Holdings, Inc. $RCAT

Wealth Enhancement Advisory Services LLC bought a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 25,356 shares of the company’s stock, valued at approximately $180,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock worth $44,000 after purchasing an additional 2,727 shares during the period. SBI Securities Co. Ltd. grew its holdings in Red Cat by 104.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company’s stock worth $56,000 after acquiring an additional 4,835 shares during the period. Summit Trail Advisors LLC acquired a new stake in Red Cat during the 1st quarter worth $59,000. U.S. Capital Wealth Advisors LLC grew its holdings in Red Cat by 30.0% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company’s stock worth $83,000 after acquiring an additional 3,250 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Red Cat in the 1st quarter valued at $89,000. 37.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Red Cat news, Director Christopher R. Moe sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $10.11, for a total value of $303,300.00. Following the transaction, the director directly owned 73,073 shares in the company, valued at $738,768.03. The trade was a 29.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 86,833 shares of company stock valued at $861,560 in the last 90 days. 15.30% of the stock is owned by insiders.

Red Cat Price Performance

Shares of NASDAQ RCAT opened at $13.12 on Friday. The stock has a market capitalization of $1.55 billion, a P/E ratio of -24.29 and a beta of 1.45. The company has a 50-day moving average price of $10.23 and a 200-day moving average price of $8.17. Red Cat Holdings, Inc. has a 1 year low of $2.66 and a 1 year high of $16.70.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RCAT shares. LADENBURG THALM/SH SH raised shares of Red Cat to a “strong-buy” rating in a research report on Thursday, October 2nd. Wall Street Zen cut shares of Red Cat from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a report on Wednesday. Needham & Company LLC initiated coverage on shares of Red Cat in a research note on Friday, October 3rd. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Northland Securities set a $16.00 price target on shares of Red Cat in a research note on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Red Cat has an average rating of “Buy” and a consensus target price of $16.50.

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.