Silver Oak Securities Incorporated Sells 42,568 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT)

Silver Oak Securities Incorporated reduced its holdings in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 70.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,187 shares of the company's stock after selling 42,568 shares during the quarter. Silver Oak Securities Incorporated's holdings in Red Cat were worth $107,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RCAT. Waddell & Associates LLC acquired a new position in Red Cat during the fourth quarter worth about $159,643,000. Rockefeller Capital Management L.P. bought a new stake in shares of Red Cat during the 4th quarter valued at approximately $6,628,000. Captrust Financial Advisors acquired a new position in Red Cat during the 4th quarter worth approximately $4,262,000. Apis Capital Advisors LLC lifted its stake in Red Cat by 61.7% in the 4th quarter. Apis Capital Advisors LLC now owns 650,000 shares of the company's stock valued at $8,352,000 after purchasing an additional 248,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in 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. 37.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RCAT. Northland Securities began coverage on shares of Red Cat in a research note on Tuesday, March 11th. They set an "outperform" rating and a $13.00 target price on the stock. Northland Capmk raised Red Cat to a "strong-buy" rating in a report on Monday, March 10th.

Red Cat Stock Performance

Shares of NASDAQ:RCAT traded down $0.43 during midday trading on Friday, hitting $6.87. 9,400,712 shares of the stock were exchanged, compared to its average volume of 5,413,150. The stock has a market capitalization of $631.90 million, a price-to-earnings ratio of -12.72 and a beta of 1.40. The business's 50-day moving average price is $6.43 and its 200 day moving average price is $7.70. Red Cat Holdings, Inc. has a 12 month low of $1.01 and a 12 month 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) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.17). Red Cat had a negative return on equity of 98.48% and a negative net margin of 232.62%. As a group, sell-side analysts expect that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.

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.