Red Cat Holdings, Inc. $RCAT Stake Raised by Erste Asset Management GmbH

Erste Asset Management GmbH boosted its holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT) by 496.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 164,582 shares of the company’s stock after acquiring an additional 137,000 shares during the quarter. Erste Asset Management GmbH owned about 0.14% of Red Cat worth $1,285,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Red Cat by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 6,000,037 shares of the company’s stock worth $47,580,000 after acquiring an additional 493,660 shares in the last quarter. Geode Capital Management LLC raised its position in Red Cat by 13.4% in the fourth quarter. Geode Capital Management LLC now owns 2,520,524 shares of the company’s stock worth $19,991,000 after acquiring an additional 297,967 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in Red Cat in the third quarter worth about $19,739,000. Davidson Kempner Capital Management LP purchased a new position in Red Cat in the 3rd quarter worth about $17,286,000. Finally, Tudor Investment Corp ET AL increased its stake in Red Cat by 214.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,277,523 shares of the company’s stock worth $13,222,000 after purchasing an additional 870,612 shares in the last quarter. 37.97% of the stock is currently owned by institutional investors.

Red Cat Price Performance

NASDAQ:RCAT opened at $10.90 on Thursday. Red Cat Holdings, Inc. has a fifty-two week low of $5.77 and a fifty-two week high of $18.78. The stock’s 50-day moving average is $11.79 and its two-hundred day moving average is $11.77. The stock has a market cap of $1.34 billion, a PE ratio of -15.57 and a beta of 1.23.

Red Cat (NASDAQ:RCAT) last released its earnings results on Thursday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.10). Red Cat had a negative net margin of 138.36% and a negative return on equity of 35.86%. The business had revenue of $15.47 million for the quarter, compared to analysts’ expectations of $17.63 million. The firm’s revenue was up 849.1% on a year-over-year basis. On average, equities research analysts anticipate that Red Cat Holdings, Inc. will post -0.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RCAT shares. Roth Mkm started coverage on Red Cat in a research note on Monday, June 1st. They issued a “buy” rating and a $25.00 price target on the stock. UBS Group started coverage on Red Cat in a research note on Wednesday, May 27th. They issued a “buy” rating on the stock. HC Wainwright started coverage on Red Cat in a research note on Wednesday, May 27th. They issued a “buy” rating and a $20.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a research note on Tuesday, April 21st. Finally, LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $21.40.

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.