PVG Asset Management Corp Buys Shares of 55,037 Red Cat Holdings, Inc. (NASDAQ:RCAT)

PVG Asset Management Corp purchased a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 55,037 shares of the company’s stock, valued at approximately $63,000.

Separately, Renaissance Technologies LLC bought a new stake in Red Cat in the 2nd quarter valued at about $267,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH assumed coverage on shares of Red Cat in a research report on Friday, June 14th. They issued a “buy” rating and a $4.00 target price for the company.

Red Cat Price Performance

RCAT opened at $2.54 on Tuesday. The stock’s 50 day moving average price is $2.65 and its 200 day moving average price is $1.65. The stock has a market cap of $188.68 million and a P/E ratio of -4.88. Red Cat Holdings, Inc. has a 12 month low of $0.52 and a 12 month high of $3.48.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.10) EPS for the quarter. Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. The business had revenue of $6.31 million for the quarter. Equities analysts anticipate that Red Cat Holdings, Inc. will post -0.22 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.