1,907,122 Shares in Red Cat Holdings, Inc. $RCAT Bought by Brevan Howard Capital Management LP

Key Points

• Brevan Howard Capital Management LP purchased a new stake of 1,907,122 shares of Red Cat (approximately $19.74 million) in Q3, equal to about 1.62% of the company.
• Analysts are mixed—two Buy ratings and one Sell—resulting in a MarketBeat consensus of "Hold" with a consensus target price of $19.33.
• RCAT opened at $15.86 with a market cap of $1.89 billion; its 50‑day/200‑day moving averages are $13.45/$10.94, the 12‑month range is $4.60–$18.78, and institutions own about 37.97% of the stock.

Brevan Howard Capital Management LP purchased a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,907,122 shares of the company's stock, valued at approximately $19,739,000. Brevan Howard Capital Management LP owned about 1.62% of Red Cat as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RCAT. Montag A & Associates Inc. grew its holdings in Red Cat by 552.0% in the 3rd quarter. Montag A & Associates Inc. now owns 3,260 shares of the company's stock worth $34,000 after acquiring an additional 2,760 shares during the last quarter. California State Teachers Retirement System bought a new position in shares of Red Cat during the second quarter valued at about $34,000. Global Retirement Partners LLC bought a new position in shares of Red Cat during the third quarter valued at about $36,000. Bank of America Corp DE boosted its holdings in shares of Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock worth $44,000 after purchasing an additional 2,727 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in shares of Red Cat during the third quarter worth about $46,000. Hedge funds and other institutional investors own 37.97% of the company's stock.

Red Cat Trading Down 1.9%

NASDAQ:RCAT opened at $15.86 on Friday. The company has a 50-day moving average price of $13.45 and a 200-day moving average price of $10.94. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -36.05 and a beta of 1.53. Red Cat Holdings, Inc. has a 12 month low of $4.60 and a 12 month high of $18.78.

Analysts Set New Price Targets

RCAT has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and set a $16.00 price target on shares of Red Cat in a report on Monday, March 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Red Cat in a report on Thursday, January 22nd. LADENBURG THALM/SH SH lifted their price objective on Red Cat from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Finally, Northland Securities set a $22.00 target price on Red Cat in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Red Cat presently has a consensus rating of "Hold" and a consensus target price of $19.33.

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.

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