Everstar Asset Management LLC Makes New $211,000 Investment in Red Cat Holdings, Inc. $RCAT

Key Points

• Everstar Asset Management LLC acquired a new stake in Red Cat Holdings, Inc. valued at approximately $211,000 by purchasing 35,938 shares in the first quarter.
• Recent analyst reports indicate an average rating of "Strong Buy" for Red Cat, with a consensus price target of $16.00.
• Insider transactions revealed significant sales, with directors selling a total of 176,833 shares over the last three months, amounting to $1,356,060 in value.

Everstar Asset Management LLC acquired a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,938 shares of the company's stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Apis Capital Advisors LLC increased its holdings in shares of Red Cat by 4.9% during the 1st quarter. Apis Capital Advisors LLC now owns 682,000 shares of the company's stock worth $4,010,000 after buying an additional 32,000 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Red Cat by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 266,099 shares of the company's stock worth $1,565,000 after acquiring an additional 59,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Red Cat by 63.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 229,259 shares of the company's stock worth $1,348,000 after acquiring an additional 89,095 shares during the last quarter. GW Henssler & Associates Ltd. acquired a new stake in Red Cat during the 1st quarter worth approximately $1,297,000. Finally, Integrated Wealth Concepts LLC increased its position in Red Cat by 66.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 195,225 shares of the company's stock worth $1,148,000 after purchasing an additional 77,630 shares in the last quarter. Institutional investors and hedge funds own 37.97% of the company's stock.

Insider Activity

In other Red Cat news, Director Christopher R. Moe sold 16,833 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $9.58, for a total transaction of $161,260.14. Following the completion of the sale, the director owned 113,073 shares in the company, valued at $1,083,239.34. This trade represents a 12.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph David Freedman sold 150,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $7.37, for a total value of $1,105,500.00. Following the sale, the director 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 position. The disclosure for this sale can be found here. Insiders have sold 176,833 shares of company stock valued at $1,356,060 over the last 90 days. Insiders own 15.30% of the company's stock.

Red Cat Price Performance

RCAT traded down $0.48 during trading hours on Friday, reaching $10.53. 6,883,434 shares of the stock traded hands, compared to its average volume of 7,542,463. The firm's fifty day simple moving average is $9.09 and its two-hundred day simple moving average is $7.27. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -19.49 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.

Analyst Ratings Changes

Several research firms have recently issued reports on RCAT. Wall Street Zen raised shares of Red Cat from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Northland Securities set a $16.00 price objective on shares of Red Cat in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, Red Cat has an average rating of "Strong Buy" and an average target price of $16.00.

Red Cat Company Profile

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.