GW Henssler & Associates Ltd. Invests $1.30 Million in Red Cat Holdings, Inc. $RCAT

Key Points

• GW Henssler & Associates Ltd. recently acquired 220,501 shares of Red Cat Holdings, Inc. for approximately $1.3 million, representing a 0.24% ownership stake in the company.
• Red Cat's stock is currently trading at $8.94, down 1.1%, with a market cap of $891.85 million and a price-to-earnings ratio of -16.56.
• Several analysts have upgraded Red Cat's stock rating, with a consensus of "Strong Buy" and a price target of $16.00.

GW Henssler & Associates Ltd. purchased a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 220,501 shares of the company's stock, valued at approximately $1,297,000. GW Henssler & Associates Ltd. owned 0.24% of Red Cat as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE increased its stake in Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock valued at $44,000 after purchasing an additional 2,727 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Red Cat by 104.4% during the first quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company's stock worth $56,000 after acquiring an additional 4,835 shares during the period. Summit Trail Advisors LLC acquired a new position in Red Cat during the first quarter worth about $59,000. Wells Fargo & Company MN grew its holdings in Red Cat by 446.5% during the fourth quarter. Wells Fargo & Company MN now owns 10,465 shares of the company's stock worth $134,000 after acquiring an additional 8,550 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in Red Cat during the fourth quarter worth about $180,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Red Cat

In other news, Director Christopher R. Moe sold 16,833 shares of the business's stock in a transaction 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. The trade was a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph David Freedman sold 150,000 shares of the company'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 owned 165,260 shares of the company's stock, valued at $1,217,966.20. The trade was a 47.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,833 shares of company stock worth $2,214,060 over the last three months. 15.30% of the stock is currently owned by insiders.

Red Cat Trading Down 0.7%

Red Cat stock traded down $0.06 during trading hours on Thursday, reaching $8.51. 2,804,937 shares of the company were exchanged, compared to its average volume of 7,497,377. The firm has a market cap of $848.96 million, a price-to-earnings ratio of -15.76 and a beta of 1.44. The stock has a 50-day moving average of $8.87 and a 200 day moving average of $7.24. Red Cat Holdings, Inc. has a 12 month low of $2.31 and a 12 month high of $15.27.

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.