LPL Financial LLC Increases Stock Holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT)

LPL Financial LLC lifted its position in Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 497.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 74,008 shares of the company's stock after acquiring an additional 61,615 shares during the period. LPL Financial LLC owned 0.09% of Red Cat worth $951,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RCAT. Twin Tree Management LP purchased a new position in shares of Red Cat during the fourth quarter valued at approximately $28,000. United Capital Management of KS Inc. increased its position in Red Cat by 7.4% during the 4th quarter. United Capital Management of KS Inc. now owns 45,650 shares of the company's stock valued at $587,000 after buying an additional 3,150 shares in the last quarter. Gladstone Institutional Advisory LLC raised its stake in Red Cat by 34.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company's stock valued at $172,000 after buying an additional 3,400 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Red Cat in the fourth quarter worth $60,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Red Cat by 1,536.6% in the fourth quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company's stock worth $114,000 after acquiring an additional 8,344 shares during the last quarter. Hedge funds and other institutional investors own 37.97% of the company's stock.

Red Cat Stock Performance

Shares of NASDAQ:RCAT traded down $0.19 during midday trading on Friday, reaching $5.10. 1,129,501 shares of the company's stock traded hands, compared to its average volume of 4,265,837. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43. Red Cat Holdings, Inc. has a one year low of $0.80 and a one year high of $15.27. The company has a market cap of $437.06 million, a price-to-earnings ratio of -9.43 and a beta of 1.34. The stock has a 50 day moving average of $6.04 and a 200 day moving average of $7.17.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RCAT. Northland Capmk raised shares of Red Cat to a "strong-buy" rating in a research report on Monday, March 10th. Northland Securities started coverage on shares of Red Cat in a report on Tuesday, March 11th. They set an "outperform" rating and a $13.00 price target on the 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.