CenterBook Partners LP Makes New Investment in Red Cat Holdings, Inc. $RCAT

CenterBook Partners LP purchased a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 56,031 shares of the company’s stock, valued at approximately $580,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RCAT. VestGen Advisors LLC increased its position in Red Cat by 4.9% in the 2nd quarter. VestGen Advisors LLC now owns 23,625 shares of the company’s stock valued at $172,000 after buying an additional 1,097 shares in the last quarter. AlphaQuest LLC grew its stake in Red Cat by 17.4% in the third quarter. AlphaQuest LLC now owns 10,839 shares of the company’s stock valued at $112,000 after acquiring an additional 1,608 shares during the period. Toth Financial Advisory Corp increased its holdings in shares of Red Cat by 7.2% during the third quarter. Toth Financial Advisory Corp now owns 29,800 shares of the company’s stock valued at $308,000 after acquiring an additional 2,000 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Red Cat by 407.0% during the fourth 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. Finally, Western Wealth Management LLC raised its position in shares of Red Cat by 12.8% during the second quarter. Western Wealth Management LLC now owns 26,500 shares of the company’s stock worth $193,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 37.97% of the company’s stock.

Red Cat Stock Performance

NASDAQ:RCAT opened at $12.47 on Friday. Red Cat Holdings, Inc. has a 52 week low of $4.58 and a 52 week high of $18.02. The firm has a 50-day moving average price of $11.64 and a two-hundred day moving average price of $10.43. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -28.34 and a beta of 1.50.

Analysts Set New Price Targets

A number of brokerages have commented on RCAT. Needham & Company LLC boosted their price target on shares of Red Cat from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a research report on Thursday, January 22nd. Northland Securities set a $22.00 target price on shares of Red Cat in a report on Tuesday, January 20th. Finally, LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a research note on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Red Cat presently has an average rating of “Buy” and a consensus price target of $19.00.

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.