Integrated Wealth Concepts LLC grew its stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 66.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,225 shares of the company's stock after acquiring an additional 77,630 shares during the period. Integrated Wealth Concepts LLC owned about 0.22% of Red Cat worth $1,148,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in Red Cat by 407.0% during the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock worth $44,000 after acquiring an additional 2,727 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Red Cat by 23.0% during the 4th quarter. Squarepoint Ops LLC now owns 15,496 shares of the company's stock worth $199,000 after acquiring an additional 2,902 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in Red Cat by 30.0% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company's stock worth $83,000 after acquiring an additional 3,250 shares in the last quarter. Western Wealth Management LLC grew its holdings in Red Cat by 18.1% during the 1st quarter. Western Wealth Management LLC now owns 23,500 shares of the company's stock worth $138,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Red Cat by 4.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 120,297 shares of the company's stock valued at $707,000 after buying an additional 4,587 shares during the period. 37.97% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
RCAT has been the subject of several research reports. Wall Street Zen raised shares of Red Cat from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Northland Securities set a $16.00 price target on shares of Red Cat in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Strong Buy" and an average price target of $16.00.
Get Our Latest Research Report on RCAT
Insider Activity
In related news, Director Joseph David Freedman sold 150,000 shares of Red Cat stock in a transaction dated 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 directly owned 165,260 shares in the company, valued at $1,217,966.20. This trade represents a 47.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher R. Moe sold 16,833 shares of Red Cat stock in a transaction dated Thursday, August 21st. The shares were 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 approximately $1,083,239.34. This represents a 12.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 176,833 shares of company stock worth $1,356,060. 15.30% of the stock is currently owned by insiders.
Red Cat Stock Performance
NASDAQ RCAT opened at $8.52 on Thursday. Red Cat Holdings, Inc. has a one year low of $2.31 and a one year high of $15.27. The company has a 50-day simple moving average of $9.01 and a 200-day simple moving average of $7.25. The firm has a market capitalization of $849.96 million, a PE ratio of -15.78 and a beta of 1.44.
Red Cat Company Profile
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Free Report)
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.
Further Reading
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