Red Cat Holdings, Inc. $RCAT Shares Sold by AWM Investment Company Inc.

Key Points

• AWM Investment Company Inc. has reduced its stake in Red Cat Holdings by 1.7%, now holding approximately 1.95% of the company stock valued at over $10.39 million.
• Bank of America Corp DE increased its investment in Red Cat by 407.0% during the previous quarter, highlighting growing interest in the company among institutional investors.
• Red Cat's stock price is currently around $8.88, with analysts assigning an average target price of $16.00 and a consensus rating of "Strong Buy."

AWM Investment Company Inc. trimmed its stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,767,674 shares of the company's stock after selling 30,000 shares during the quarter. Red Cat makes up 1.4% of AWM Investment Company Inc.'s investment portfolio, making the stock its 28th largest position. AWM Investment Company Inc. owned approximately 1.95% of Red Cat worth $10,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Captrust Financial Advisors purchased a new position in shares of Red Cat in the 4th quarter valued at approximately $4,262,000. GW Henssler & Associates Ltd. bought a new position in shares of Red Cat during the first quarter valued at $1,297,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Red Cat in the fourth quarter valued at about $1,801,000. OMERS ADMINISTRATION Corp purchased a new stake in Red Cat in the fourth quarter worth about $1,714,000. Finally, Moors & Cabot Inc. increased its position in Red Cat by 293.0% in the first quarter. Moors & Cabot Inc. now owns 169,600 shares of the company's stock worth $997,000 after buying an additional 126,450 shares in the last quarter. 37.97% of the stock is currently owned by institutional investors.

Red Cat Stock Up 0.1%

Shares of Red Cat stock traded up $0.01 during trading on Friday, hitting $8.52. 2,970,660 shares of the company were exchanged, compared to its average volume of 6,243,863. The stock has a market capitalization of $849.96 million, a price-to-earnings ratio of -15.78 and a beta of 1.44. Red Cat Holdings, Inc. has a fifty-two week low of $2.31 and a fifty-two week high of $15.27. The firm has a 50 day moving average price of $8.92 and a 200 day moving average price of $7.24.

Analyst Ratings Changes

RCAT has been the subject of a number of research reports. Northland Securities set a $16.00 price target on Red Cat in a research note on Friday, August 15th. Wall Street Zen raised Red Cat from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Strong Buy" and an average target price of $16.00.

Insiders Place Their Bets

In other news, Director Christopher R. Moe sold 16,833 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $9.58, for a total transaction of $161,260.14. Following the completion of the sale, the director directly owned 113,073 shares of the company's stock, valued at $1,083,239.34. The trade was a 12.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph David Freedman sold 150,000 shares of the business's stock in a transaction on Monday, June 30th. The shares were 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 $1,217,966.20. This represents a 47.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 276,833 shares of company stock valued at $2,214,060. Company insiders own 15.30% of the company's stock.

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.