SG Americas Securities LLC Takes Position in Red Cat Holdings, Inc. $RCAT

SG Americas Securities LLC purchased a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 40,387 shares of the company’s stock, valued at approximately $418,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position 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 valued at $44,000 after acquiring an additional 2,727 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Red Cat by 76.4% during the first quarter. Royal Bank of Canada now owns 57,800 shares of the company’s stock valued at $340,000 after purchasing an additional 25,031 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Red Cat by 63.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 229,259 shares of the company’s stock valued at $1,348,000 after purchasing an additional 89,095 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Red Cat by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 266,099 shares of the company’s stock worth $1,565,000 after purchasing an additional 59,334 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Red Cat in the 2nd quarter worth approximately $180,000. Institutional investors own 37.97% of the company’s stock.

Analyst Ratings Changes

RCAT has been the topic of a number of recent research reports. LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a research report on Thursday, December 18th. Needham & Company LLC raised their price target on Red Cat from $12.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a research report on Thursday. Northland Securities set a $22.00 target price on shares of Red Cat in a research report on Tuesday, January 20th. Finally, Wall Street Zen cut shares of Red Cat from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Red Cat presently has a consensus rating of “Buy” and a consensus price target of $19.00.

Red Cat Trading Down 7.5%

NASDAQ RCAT opened at $16.06 on Monday. Red Cat Holdings, Inc. has a 12 month low of $4.58 and a 12 month high of $18.02. The stock has a 50-day simple moving average of $9.42 and a 200 day simple moving average of $9.93. The company has a market capitalization of $1.92 billion, a PE ratio of -36.50 and a beta of 1.48.

Red Cat (NASDAQ:RCAT) last posted its 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. As a group, sell-side analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Red Cat Company Profile

Red Cat Holdings, Inc (NASDAQ: RCAT) is a technology holding company that develops and delivers advanced robotics, autonomy, and sensing solutions for defense, national security, public safety and commercial customers. Headquartered in American Fork, Utah, the company brings together a portfolio of specialized operating businesses focused on unmanned aerial systems (UAS), mission management software, precision mapping sensors and engineering services.

Through its UAS segment, Red Cat designs and manufactures small to medium-sized fixed-wing and vertical-takeoff drones that support intelligence, surveillance and reconnaissance (ISR) missions.