Toth Financial Advisory Corp Makes New Investment in Red Cat Holdings, Inc. $RCAT

Key Points

• Toth Financial Advisory Corp has acquired a new position in Red Cat Holdings, purchasing 27,800 shares valued at approximately $202,000 during the second quarter.
• Institutional ownership for Red Cat Holdings has increased, with over 37.97% of the stock now held by hedge funds and institutional investors, including significant stake increases from firms like Goldman Sachs and MIRAE ASSET GLOBAL ETFS HOLDINGS.
• Shares of Red Cat Holdings (NASDAQ:RCAT) have traded up 4.2%, currently priced at $10.46, with a 12-month price range between $2.31 and $15.27 and a consensus price target of $16.00 from analysts.

Toth Financial Advisory Corp acquired a new position in Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 27,800 shares of the company's stock, valued at approximately $202,000.

A number of other institutional investors have also modified their holdings of RCAT. Bank of America Corp DE lifted its stake in shares of Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock worth $44,000 after buying an additional 2,727 shares during the period. Millennium Management LLC raised its position in shares of Red Cat by 44.1% in the fourth quarter. Millennium Management LLC now owns 60,864 shares of the company's stock worth $782,000 after acquiring an additional 18,641 shares during the period. Tidal Investments LLC acquired a new position in shares of Red Cat in the fourth quarter worth about $270,000. Two Sigma Advisers LP acquired a new position in shares of Red Cat in the fourth quarter worth about $362,000. Finally, Squarepoint Ops LLC raised its position in shares of 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 purchasing an additional 2,902 shares during the last quarter. 37.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RCAT has been the subject of a number of recent research reports. Wall Street Zen upgraded 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 objective on shares of Red Cat in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and an average price target of $16.00.

Insider Transactions at Red Cat

In related news, Director Joseph David Freedman sold 150,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 165,260 shares of the company's stock, valued at approximately $1,217,966.20. This represents a 47.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher R. Moe sold 10,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $10.96, for a total transaction of $109,600.00. Following the sale, the director owned 63,073 shares of the company's stock, valued at approximately $691,280.08. This represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 226,833 shares of company stock worth $1,857,960. 15.30% of the stock is owned by insiders.

Red Cat Price Performance

Shares of RCAT stock traded up $0.86 during trading hours on Monday, hitting $11.32. The stock had a trading volume of 21,834,287 shares, compared to its average volume of 8,695,787. The firm has a market capitalization of $1.13 billion, a PE ratio of -20.96 and a beta of 1.44. Red Cat Holdings, Inc. has a twelve month low of $2.31 and a twelve month high of $15.27. The stock's 50 day moving average is $9.53 and its 200 day moving average is $7.53.

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.