Moors & Cabot Inc. Increases Stake in Red Cat Holdings, Inc. (NASDAQ:RCAT)

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. boosted its position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 293.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 169,600 shares of the company's stock after buying an additional 126,450 shares during the quarter. Moors & Cabot Inc. owned approximately 0.19% of Red Cat worth $997,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RCAT. Baader Bank Aktiengesellschaft acquired a new stake in shares of Red Cat in the first quarter valued at about $89,000. XTX Topco Ltd purchased a new position in shares of Red Cat in the first quarter worth about $229,000. SBI Securities Co. Ltd. lifted its stake in shares of Red Cat by 104.4% in the first quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company's stock worth $56,000 after buying an additional 4,835 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Red Cat by 30.0% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company's stock worth $83,000 after buying an additional 3,250 shares in the last quarter. Finally, Summit Trail Advisors LLC purchased a new position in shares of Red Cat in the first quarter worth about $59,000. Institutional investors and hedge funds own 37.97% of the company's stock.

Insider Activity at Red Cat

In other news, Director Nicholas Reyland Liuzza, Jr. sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $8.58, for a total transaction of $858,000.00. Following the completion of the sale, the director owned 387,445 shares in the company, valued at approximately $3,324,278.10. The trade was a 20.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph David Freedman sold 150,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was 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. This represents a 47.58% 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 valued at $2,635,570 in the last 90 days. Insiders own 15.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RCAT shares. Wall Street Zen raised shares of Red Cat from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Northland Securities set a $15.00 price target on shares of Red Cat in a research report on Tuesday.

Red Cat Price Performance

Shares of RCAT stock traded down $0.50 during trading on Wednesday, reaching $9.51. The company's stock had a trading volume of 5,595,532 shares, compared to its average volume of 7,618,427. The company has a market capitalization of $874.36 million, a price-to-earnings ratio of -17.60 and a beta of 1.44. The stock's 50-day moving average price is $8.14 and its 200 day moving average price is $7.23. Red Cat Holdings, Inc. has a 1-year low of $1.85 and a 1-year high of $15.27.

Red Cat (NASDAQ:RCAT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.17). On average, sell-side analysts anticipate that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Red Cat 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.