2,160 Shares in Red Cat Holdings, Inc. (NASDAQ:RCAT) Purchased by Twin Tree Management LP

Twin Tree Management LP acquired a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the 4th quarter, HoldingsChannel reports. The firm acquired 2,160 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in shares of Red Cat in the third quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Red Cat in the fourth quarter valued at approximately $60,000. Jones Financial Companies Lllp increased 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 valued at $114,000 after purchasing an additional 8,344 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Red Cat in the fourth quarter valued at approximately $118,000. Finally, Regency Capital Management Inc. DE acquired a new stake in shares of Red Cat in the fourth quarter valued at approximately $130,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RCAT. Northland Securities began coverage on shares of Red Cat in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $13.00 price target on the stock. Northland Capmk upgraded shares of Red Cat to a “strong-buy” rating in a report on Monday, March 10th.

Insider Buying and Selling

In related news, Director Joseph David Freedman sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the sale, the director now directly owns 635,190 shares in the company, valued at approximately $6,351,900. This trade represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider George Michael Matus sold 287,113 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $9.94, for a total transaction of $2,853,903.22. Following the sale, the insider now owns 685,990 shares of the company’s stock, valued at $6,818,740.60. The trade was a 29.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,488,827 shares of company stock worth $17,336,227. Corporate insiders own 21.50% of the company’s stock.

Red Cat Trading Up 4.9 %

Red Cat stock opened at $5.40 on Thursday. The firm has a 50 day simple moving average of $7.99 and a 200-day simple moving average of $6.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60. The stock has a market capitalization of $462.33 million, a PE ratio of -10.00 and a beta of 1.32. Red Cat Holdings, Inc. has a 12-month low of $0.71 and a 12-month high of $15.27.

Red Cat (NASDAQ:RCAT) last issued its earnings results on Monday, December 16th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.27). Red Cat had a negative return on equity of 96.00% and a negative net margin of 232.62%. During the same quarter in the prior year, the firm earned ($0.11) EPS. As a group, equities research analysts expect that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal 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.