38,945 Shares in Red Cat Holdings, Inc. (NASDAQ:RCAT) Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd acquired 38,945 shares of Red Cat Holdings, Inc. valued at approximately $229,000, highlighting growing institutional interest in the company.
• Insider trading activities showed significant sales, with Director Joseph David Freedman selling 150,000 shares for over $1 million, reducing his position by 47.58%.
• Analysts have varied opinions on Red Cat, with Northland Securities setting a price target of $15.00 and recent upgrades from "sell" to "hold" from Wall Street Zen.

XTX Topco Ltd purchased a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 38,945 shares of the company's stock, valued at approximately $229,000.

Other hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE lifted 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 buying an additional 2,727 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Red Cat by 104.4% in the first quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company's stock worth $56,000 after purchasing an additional 4,835 shares during the period. Summit Trail Advisors LLC bought a new position in shares of Red Cat in the first quarter worth $59,000. U.S. Capital Wealth Advisors LLC increased its position in shares of Red Cat by 30.0% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company's stock worth $83,000 after purchasing an additional 3,250 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Red Cat by 446.5% in the fourth quarter. Wells Fargo & Company MN now owns 10,465 shares of the company's stock worth $134,000 after purchasing an additional 8,550 shares during the period. Institutional investors and hedge funds own 37.97% of the company's stock.

Insider Transactions at Red Cat

In other news, Director Joseph David Freedman sold 150,000 shares of Red Cat stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $7.37, for a total transaction of $1,105,500.00. Following the sale, the director directly owned 165,260 shares of the company's stock, valued at approximately $1,217,966.20. This trade represents a 47.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nicholas Reyland Liuzza, Jr. sold 100,309 shares of Red Cat stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $6.70, for a total value of $672,070.30. Following the sale, the director directly owned 387,445 shares in the company, valued at $2,595,881.50. The trade was a 20.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 350,309 shares of company stock worth $2,635,570. Company insiders own 15.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen upgraded Red Cat from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Northland Securities set a $15.00 target price on Red Cat in a research report on Tuesday, August 5th.

Red Cat Trading Down 0.2%

Red Cat stock traded down $0.02 during midday trading on Thursday, reaching $9.37. The company's stock had a trading volume of 8,350,442 shares, compared to its average volume of 7,574,598. Red Cat Holdings, Inc. has a 52 week low of $2.31 and a 52 week high of $15.27. The business has a 50-day moving average price of $8.48 and a 200-day moving average price of $7.28. The stock has a market cap of $861.82 million, a PE ratio of -17.35 and a beta of 1.44.

Red Cat (NASDAQ:RCAT - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). As a group, research analysts predict that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

About Red Cat

Red Cat Holdings, Inc engages in the provision of various products, services, and solutions to the drone industry. The company operates through two segments: Enterprise and Consumer. It built infrastructure to manages drone fleets and fly, and provide services remotely, navigate confined industrial interior spaces and dangerous military environment.