Red Cat Holdings, Inc. $RCAT Stock Position Raised by AWM Investment Company Inc.

AWM Investment Company Inc. boosted its position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 15.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,037,616 shares of the company’s stock after purchasing an additional 269,942 shares during the period. Red Cat accounts for 1.7% of AWM Investment Company Inc.’s investment portfolio, making the stock its 18th biggest holding. AWM Investment Company Inc. owned 2.22% of Red Cat worth $14,834,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in Red Cat by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 266,099 shares of the company’s stock valued at $1,565,000 after purchasing an additional 59,334 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of Red Cat during the 2nd quarter valued at $202,000. Moors & Cabot Inc. grew its holdings in shares of Red Cat by 65.6% during the 2nd quarter. Moors & Cabot Inc. now owns 280,825 shares of the company’s stock valued at $2,044,000 after acquiring an additional 111,225 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Red Cat by 66.0% in the first quarter. Integrated Wealth Concepts LLC now owns 195,225 shares of the company’s stock valued at $1,148,000 after purchasing an additional 77,630 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Red Cat by 31.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 157,704 shares of the company’s stock worth $1,148,000 after purchasing an additional 37,407 shares during the last quarter. 37.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Red Cat

In other news, Director Christopher R. Moe sold 10,000 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $10.91, for a total value of $109,100.00. Following the completion of the sale, the director directly owned 53,073 shares of the company’s stock, valued at approximately $579,026.43. This represents a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Red Cat from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Northland Securities set a $16.00 target price on shares of Red Cat in a research report on Friday, August 15th. LADENBURG THALM/SH SH upgraded shares of Red Cat to a “strong-buy” rating in a research note on Thursday, October 2nd. Needham & Company LLC reduced their price objective on shares of Red Cat from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Red Cat presently has an average rating of “Buy” and an average price target of $14.00.

Red Cat Price Performance

Shares of RCAT opened at $8.04 on Friday. The company has a market capitalization of $959.73 million, a PE ratio of -18.27 and a beta of 1.48. Red Cat Holdings, Inc. has a one year low of $4.58 and a one year high of $16.70. The company’s fifty day moving average price is $9.77 and its 200 day moving average price is $9.19.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The firm had revenue of $9.65 million during the quarter, compared to the consensus estimate of $8.18 million. Analysts anticipate that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

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.