Red Cat Holdings, Inc. (NASDAQ:RCAT) Shares Purchased by Moors & Cabot Inc.

Key Points

• Moors & Cabot Inc. significantly increased its shares in Red Cat Holdings, Inc. by 293.0% in the first quarter, acquiring a total of 169,600 shares, valued at approximately $997,000.
• Red Cat's shares opened at $8.20 with a market capitalization of $754.24 million and have fluctuated between a fifty-two week low of $1.66 and a high of $15.27.
• The company reported a loss of ($0.27) earnings per share in its latest quarterly earnings, missing analysts' expectations of ($0.10).

Moors & Cabot Inc. increased its position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 293.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 169,600 shares of the company's stock after acquiring an additional 126,450 shares during the quarter. Moors & Cabot Inc. owned approximately 0.19% of Red Cat worth $997,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Red Cat in the 4th quarter valued at $478,000. Commonwealth Equity Services LLC acquired a new position in shares of Red Cat in the 4th quarter valued at $388,000. LPL Financial LLC boosted its holdings in shares of Red Cat by 497.2% in the 4th quarter. LPL Financial LLC now owns 74,008 shares of the company's stock valued at $951,000 after purchasing an additional 61,615 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Red Cat by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company's stock valued at $32,197,000 after purchasing an additional 207,727 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Red Cat in the 4th quarter valued at $1,368,000. Institutional investors and hedge funds own 37.97% of the company's stock.

Red Cat Stock Down 1.0%

Shares of RCAT opened at $8.20 on Friday. The firm has a market cap of $754.24 million, a PE ratio of -15.19 and a beta of 1.44. The company's fifty day moving average is $8.03 and its two-hundred day moving average is $7.23. Red Cat Holdings, Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $15.27.

Red Cat (NASDAQ:RCAT - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.17). As a group, equities research analysts anticipate that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Red Cat from a "sell" rating to a "hold" rating in a report on Saturday, July 26th.

Insider Buying and Selling at Red Cat

In related news, Director Joseph David Freedman sold 150,000 shares of Red Cat 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 transaction, the director owned 165,260 shares in the company, valued at approximately $1,217,966.20. The trade was a 47.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nicholas Reyland Liuzza, Jr. sold 100,309 shares of Red Cat stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $6.70, for a total transaction of $672,070.30. Following the transaction, the director owned 387,445 shares in the company, valued at $2,595,881.50. The trade was a 20.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 350,309 shares of company stock worth $2,635,570 in the last 90 days. Company insiders own 15.30% of the company's stock.

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.

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