Silver Oak Securities Incorporated Has $107,000 Stock Position in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Silver Oak Securities Incorporated lowered its stake in Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 70.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,187 shares of the company's stock after selling 42,568 shares during the period. Silver Oak Securities Incorporated's holdings in Red Cat were worth $107,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RCAT. Jones Financial Companies Lllp boosted its position in Red Cat by 1,536.6% in the fourth quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company's stock valued at $114,000 after buying an additional 8,344 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Red Cat in the fourth quarter valued at approximately $60,000. Charles Schwab Investment Management Inc. boosted its position in Red Cat by 63.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,059 shares of the company's stock valued at $386,000 after buying an additional 11,661 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Red Cat in the fourth quarter valued at approximately $478,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Red Cat in the fourth quarter valued at approximately $118,000. Institutional investors and hedge funds own 37.97% of the company's stock.

Analyst Ratings Changes

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

Red Cat Stock Performance

Shares of NASDAQ:RCAT opened at $6.79 on Tuesday. The firm has a market cap of $624.54 million, a PE ratio of -12.57 and a beta of 1.43. The firm's fifty day moving average is $6.85 and its 200-day moving average is $7.58. Red Cat Holdings, Inc. has a 52 week low of $1.13 and a 52 week high of $15.27.

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

Insider Activity at Red Cat

In related news, Director Joseph David Freedman sold 150,000 shares of the business's stock in a transaction on 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 transaction, the director owned 165,260 shares in the company, valued at $1,217,966.20. The trade was a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.30% of the company's stock.

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.

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