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

Twin Tree Management LP acquired a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,160 shares of the company’s stock, valued at approximately $28,000.

Several other institutional investors have also recently modified their holdings of RCAT. Corsair Capital Management L.P. acquired a new position in Red Cat in the 3rd quarter valued at $308,000. Wolverine Trading LLC acquired a new position in Red Cat in the 3rd quarter valued at $233,000. Centiva Capital LP acquired a new position in Red Cat in the 3rd quarter valued at $207,000. State Street Corp grew its stake in shares of Red Cat by 44.9% during the 3rd quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after buying an additional 68,800 shares during the period. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Red Cat during the 3rd quarter valued at $138,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RCAT. Northland Securities began coverage on shares of Red Cat in a research note on Tuesday, March 11th. They set an “outperform” rating and a $13.00 price objective for the company. Northland Capmk raised shares of Red Cat to a “strong-buy” rating in a research note on Monday, March 10th.

Insider Buying and Selling

In other news, insider George Michael Matus sold 287,113 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $9.94, for a total value of $2,853,903.22. Following the sale, the insider now owns 685,990 shares in the company, valued at approximately $6,818,740.60. This represents a 29.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $10.44, for a total transaction of $1,188,312.12. Following the completion of the sale, the executive now owns 558,325 shares in the company, valued at approximately $5,828,913. This trade represents a 16.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,488,827 shares of company stock valued at $17,336,227. Company insiders own 21.50% of the company’s stock.

Red Cat Stock Up 4.9 %

Shares of NASDAQ RCAT opened at $5.40 on Thursday. Red Cat Holdings, Inc. has a 52-week low of $0.71 and a 52-week high of $15.27. The firm has a fifty day moving average of $7.99 and a 200-day moving average of $6.62. The stock has a market capitalization of $462.33 million, a PE ratio of -10.00 and a beta of 1.32. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30.

Red Cat (NASDAQ:RCAT) last announced its quarterly 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 previous year, the firm earned ($0.11) EPS. On average, analysts anticipate that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.

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.