Caitong International Asset Management Co. Ltd Has $429,000 Stake in Red Cat Holdings, Inc. $RCAT

Caitong International Asset Management Co. Ltd grew its position in Red Cat Holdings, Inc. (NASDAQ:RCAT) by 1,825.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 54,152 shares of the company’s stock after buying an additional 51,339 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Red Cat were worth $429,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp increased its holdings in Red Cat by 136.4% during the 4th quarter. State Street Corp now owns 6,612,153 shares of the company’s stock valued at $52,434,000 after purchasing an additional 3,815,310 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Red Cat by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 6,000,037 shares of the company’s stock valued at $47,580,000 after buying an additional 493,660 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Red Cat by 13.4% in the fourth quarter. Geode Capital Management LLC now owns 2,520,524 shares of the company’s stock valued at $19,991,000 after buying an additional 297,967 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Red Cat in the third quarter valued at about $19,739,000. Finally, Davidson Kempner Capital Management LP acquired a new position in Red Cat during the 3rd quarter worth about $17,286,000. 37.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group started coverage on shares of Red Cat in a research note on Wednesday, May 27th. They issued a “buy” rating for the company. Clear Str raised shares of Red Cat to a “strong-buy” rating in a report on Wednesday, April 29th. Roth Mkm assumed coverage on shares of Red Cat in a research report on Monday, June 1st. They issued a “buy” rating and a $25.00 price objective for the company. LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, HC Wainwright assumed coverage on Red Cat in a research report on Wednesday, May 27th. They issued a “buy” rating and a $20.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $21.40.

Red Cat Stock Performance

RCAT stock opened at $11.44 on Friday. The stock has a 50-day moving average price of $11.60 and a two-hundred day moving average price of $11.94. Red Cat Holdings, Inc. has a 1 year low of $5.77 and a 1 year high of $18.78. The stock has a market cap of $1.40 billion, a PE ratio of -16.34 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $15.47 million during the quarter, compared to analyst estimates of $17.63 million. The firm’s quarterly revenue was up 849.1% compared to the same quarter last year. On average, analysts forecast that Red Cat Holdings, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Transactions at Red Cat

In other news, Director Paul Funk II sold 165,028 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $11.50, for a total transaction of $1,897,822.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.50% of the stock is owned by corporate insiders.

Red Cat 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.