Silver Oak Securities Incorporated Buys New Stake in Red Cat Holdings, Inc. $RCAT

Silver Oak Securities Incorporated purchased a new position in Red Cat Holdings, Inc. (NASDAQ:RCAT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 63,287 shares of the company’s stock, valued at approximately $655,000. Silver Oak Securities Incorporated owned about 0.05% of Red Cat as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. AWM Investment Company Inc. grew its stake in shares of Red Cat by 15.3% in the 2nd quarter. AWM Investment Company Inc. now owns 2,037,616 shares of the company’s stock worth $14,834,000 after buying an additional 269,942 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Red Cat by 142.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,656,720 shares of the company’s stock valued at $12,063,000 after acquiring an additional 974,121 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Red Cat by 30.9% in the 2nd quarter. Captrust Financial Advisors now owns 820,279 shares of the company’s stock valued at $5,972,000 after acquiring an additional 193,853 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Red Cat by 125.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 517,061 shares of the company’s stock worth $3,764,000 after acquiring an additional 287,802 shares in the last quarter. Finally, Moors & Cabot Inc. grew its position in Red Cat by 65.6% in the second quarter. Moors & Cabot Inc. now owns 280,825 shares of the company’s stock worth $2,044,000 after acquiring an additional 111,225 shares in the last quarter. Institutional investors own 37.97% of the company’s stock.

Red Cat Stock Performance

RCAT opened at $9.16 on Friday. The stock’s 50 day moving average price is $8.32 and its 200-day moving average price is $9.26. Red Cat Holdings, Inc. has a one year low of $4.58 and a one year high of $16.70. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -20.82 and a beta of 1.48.

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 analysts’ consensus estimates of ($0.07) by ($0.09). The company had revenue of $9.65 million during the quarter, compared to analysts’ expectations of $8.18 million. As a group, analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RCAT. Wall Street Zen downgraded Red Cat from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a research report on Thursday, December 18th. Needham & Company LLC lowered their price target on Red Cat from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $14.00.

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.