CenterBook Partners LP Purchases New Stake in Red Cat Holdings, Inc. $RCAT

CenterBook Partners LP acquired a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 56,031 shares of the company’s stock, valued at approximately $580,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCAT. Vanguard Group Inc. increased its stake in shares of Red Cat by 43.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,506,377 shares of the company’s stock worth $56,991,000 after purchasing an additional 1,680,929 shares during the last quarter. Geode Capital Management LLC grew its holdings in Red Cat by 142.7% during the second quarter. Geode Capital Management LLC now owns 1,656,720 shares of the company’s stock valued at $12,063,000 after purchasing an additional 974,121 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Red Cat by 125.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 517,061 shares of the company’s stock valued at $3,764,000 after purchasing an additional 287,802 shares during the period. AWM Investment Company Inc. increased its position in Red Cat by 15.3% in the second 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 during the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Red Cat by 510.9% in the second quarter. XTX Topco Ltd now owns 237,927 shares of the company’s stock valued at $1,732,000 after buying an additional 198,982 shares during the period. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Red Cat Trading Down 2.8%

Red Cat stock opened at $12.47 on Friday. Red Cat Holdings, Inc. has a 1-year low of $4.58 and a 1-year high of $18.02. The firm has a market capitalization of $1.49 billion, a PE ratio of -28.34 and a beta of 1.50. The firm’s 50 day simple moving average is $11.64 and its 200 day simple moving average is $10.43.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RCAT shares. Needham & Company LLC increased their price target on Red Cat from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a report on Thursday, January 22nd. Northland Securities set a $22.00 target price on shares of Red Cat in a research note on Tuesday, January 20th. Finally, LADENBURG THALM/SH SH raised shares of Red Cat to a “strong-buy” rating in a research report on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Red Cat presently has a consensus rating of “Buy” and a consensus price target of $19.00.

About Red Cat

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.