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

CenterBook Partners LP boosted its holdings in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 1,872.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,105,132 shares of the company’s stock after purchasing an additional 1,049,101 shares during the period. CenterBook Partners LP owned approximately 0.93% of Red Cat worth $8,764,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brevan Howard Capital Management LP purchased a new position in Red Cat during the 3rd quarter worth $19,739,000. Tudor Investment Corp ET AL grew its position in Red Cat by 214.0% during 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 during the last quarter. Baader Bank Aktiengesellschaft purchased a new position in Red Cat during the 3rd quarter worth $491,000. Vanguard Group Inc. grew its position in Red Cat by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 6,000,037 shares of the company’s stock worth $47,580,000 after purchasing an additional 493,660 shares during the last quarter. Finally, UBS Group AG grew its position in Red Cat by 37.7% during the 4th quarter. UBS Group AG now owns 580,099 shares of the company’s stock worth $4,600,000 after purchasing an additional 158,864 shares during the last quarter. 37.97% of the stock is owned by hedge funds and other institutional investors.

Red Cat Price Performance

Shares of NASDAQ RCAT opened at $12.68 on Monday. Red Cat Holdings, Inc. has a 52 week low of $5.77 and a 52 week high of $18.78. The firm has a 50-day moving average price of $11.86 and a 200 day moving average price of $11.66. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -18.11 and a beta of 1.23.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.22) EPS 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 company had revenue of $15.47 million during the quarter, compared to analyst estimates of $17.63 million. The company’s revenue for the quarter was up 849.1% compared to the same quarter last year. Equities research analysts expect that Red Cat Holdings, Inc. will post -0.68 EPS for the current fiscal year.

Analyst Ratings Changes

RCAT has been the topic of several research reports. Roth Mkm initiated coverage on shares of Red Cat in a research report on Monday, June 1st. They set a “buy” rating and a $25.00 price objective on the stock. HC Wainwright began coverage on shares of Red Cat in a research report on Wednesday, May 27th. They set a “buy” rating and a $20.00 price objective on the stock. Clear Str upgraded shares of Red Cat to a “strong-buy” rating in a research note on Wednesday, April 29th. UBS Group began coverage on shares of Red Cat in a research note on Wednesday, May 27th. They issued a “buy” rating for the company. Finally, Wall Street Zen upgraded shares of Red Cat from a “strong sell” rating to a “sell” rating in a research note on Saturday. 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $21.40.

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.