Red Cat Holdings, Inc. $RCAT Shares Purchased by United Capital Management of KS Inc.

Key Points

• United Capital Management of KS Inc. increased its stake in Red Cat Holdings by 87.6%, acquiring an additional 40,000 shares, bringing its total ownership to 85,650 shares valued at approximately $504,000.
• Several institutional investors, including LPL Financial LLC and Wells Fargo & Company, significantly boosted their holdings in Red Cat during the fourth quarter, reflecting growing interest in the company.
• Red Cat missed analysts' expected earnings with reported EPS of ($0.14) for the latest quarter, while its share price has shown a significant range with a low of $2.31 and a high of $15.27 over the past year.

United Capital Management of KS Inc. grew its holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 87.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,650 shares of the company's stock after purchasing an additional 40,000 shares during the period. United Capital Management of KS Inc. owned about 0.09% of Red Cat worth $504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Apis Capital Advisors LLC increased its stake in Red Cat by 61.7% in the fourth quarter. Apis Capital Advisors LLC now owns 650,000 shares of the company's stock worth $8,352,000 after purchasing an additional 248,000 shares during the period. Geode Capital Management LLC increased its stake in Red Cat by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 602,596 shares of the company's stock worth $7,747,000 after purchasing an additional 10,594 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in Red Cat in the fourth quarter worth $6,628,000. Captrust Financial Advisors purchased a new stake in Red Cat in the fourth quarter worth $4,262,000. Finally, Moors & Cabot Inc. increased its stake in Red Cat by 293.0% in the first quarter. Moors & Cabot Inc. now owns 169,600 shares of the company's stock worth $997,000 after purchasing an additional 126,450 shares during the period. Hedge funds and other institutional investors own 37.97% of the company's stock.

Insider Transactions at Red Cat

In related news, Director Joseph David Freedman sold 150,000 shares of the firm's stock in a transaction dated 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 trade represents a 47.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nicholas Reyland Liuzza, Jr. sold 100,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $8.58, for a total value of $858,000.00. Following the sale, the director directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 350,309 shares of company stock worth $2,635,570. 15.30% of the stock is owned by corporate insiders.

Red Cat Stock Performance

RCAT stock traded down $0.3930 during trading on Tuesday, reaching $8.7970. 3,956,882 shares of the company traded hands, compared to its average volume of 7,633,437. Red Cat Holdings, Inc. has a 12 month low of $2.31 and a 12 month high of $15.27. The business has a 50 day simple moving average of $8.53 and a 200 day simple moving average of $7.26. The company has a market capitalization of $809.15 million, a price-to-earnings ratio of -16.29 and a beta of 1.44.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Northland Securities set a $16.00 target price on Red Cat in a research note on Friday. Wall Street Zen upgraded Red Cat from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, Red Cat presently has an average rating of "Strong Buy" and an average price target of $16.00.

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.