Deutsche Bank AG Makes New Investment in Red Cat Holdings, Inc. $RCAT

Key Points

• Deutsche Bank initiated a position in Red Cat Holdings by purchasing 119,283 shares worth approximately $1.27 million, representing 0.10% of the company. Institutional investors collectively own 37.97% of RCAT.
• Red Cat reported weaker-than-expected quarterly results, with an adjusted loss of $0.26 per share versus the $0.21 consensus estimate and revenue of $20.2 million versus expectations of $22.65 million.
• Insiders have been selling shares: company directors sold 240,028 shares worth about $2.69 million over the past three months. Analysts nonetheless maintain a consensus “Buy” rating with an average price target of $20.40, compared with the stock’s recent price of $8.49.

Deutsche Bank AG purchased a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 119,283 shares of the company's stock, valued at approximately $1,270,000. Deutsche Bank AG owned 0.10% of Red Cat as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Arizona State Retirement System grew its holdings in Red Cat by 3.0% in the fourth quarter. Arizona State Retirement System now owns 29,311 shares of the company's stock worth $232,000 after purchasing an additional 855 shares during the period. CoreCap Advisors LLC boosted its position in shares of Red Cat by 13.8% during the 2nd quarter. CoreCap Advisors LLC now owns 9,039 shares of the company's stock worth $96,000 after purchasing an additional 1,095 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Red Cat by 0.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,084 shares of the company's stock valued at $1,325,000 after buying an additional 1,147 shares during the period. Advisory Services Network LLC grew its stake in shares of Red Cat by 5.3% in the 3rd quarter. Advisory Services Network LLC now owns 30,200 shares of the company's stock valued at $313,000 after buying an additional 1,507 shares during the period. Finally, Western Wealth Management LLC grew its stake in shares of Red Cat by 4.5% in the 1st quarter. Western Wealth Management LLC now owns 36,722 shares of the company's stock valued at $481,000 after buying an additional 1,570 shares during the period. 37.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Red Cat

In other Red Cat news, Director Nicholas Reyland Liuzza, Jr. sold 55,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $10.63, for a total transaction of $584,650.00. Following the transaction, the director directly owned 489,874 shares in the company, valued at approximately $5,207,360.62. This trade represents a 10.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher R. Moe sold 20,000 shares of Red Cat stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $10.51, for a total transaction of $210,200.00. Following the transaction, the director directly owned 200,502 shares in the company, valued at $2,107,276.02. This represents a 9.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 240,028 shares of company stock worth $2,692,672. Corporate insiders own 12.50% of the company's stock.

Red Cat Stock Performance

Shares of RCAT opened at $8.49 on Friday. The firm has a market capitalization of $1.04 billion, a P/E ratio of -10.48 and a beta of 1.31. Red Cat Holdings, Inc. has a 52 week low of $5.77 and a 52 week high of $18.78. The stock has a 50 day moving average price of $9.10 and a two-hundred day moving average price of $11.34.

Red Cat (NASDAQ:RCAT - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.05). Red Cat had a negative net margin of 136.26% and a negative return on equity of 32.25%. The company had revenue of $20.20 million for the quarter, compared to analysts' expectations of $22.65 million. On average, equities analysts forecast that Red Cat Holdings, Inc. will post -0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RCAT shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Red Cat in a research note on Friday, July 17th. LADENBURG THALM/SH SH raised Red Cat to a "strong-buy" rating in a research note on Wednesday, May 6th. HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of Red Cat in a report on Friday, August 7th. Wall Street Zen lowered Red Cat from a "sell" rating to a "strong sell" rating in a research report on Saturday, July 18th. Finally, UBS Group assumed coverage on Red Cat in a report on Wednesday, May 27th. They issued a "buy" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $20.40.

Red Cat Company 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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