Red Cat Holdings, Inc. $RCAT Stake Raised by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL raised its holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT) by 214.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,277,523 shares of the company’s stock after acquiring an additional 870,612 shares during the quarter. Tudor Investment Corp ET AL owned 1.07% of Red Cat worth $13,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in RCAT. IFP Advisors Inc raised its holdings in shares of Red Cat by 181.1% in the 3rd quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after purchasing an additional 1,720 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Red Cat by 22.2% during the third quarter. CIBC Private Wealth Group LLC now owns 22,000 shares of the company’s stock worth $228,000 after buying an additional 4,000 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in Red Cat during the third quarter worth approximately $322,000. Captrust Financial Advisors grew its position in Red Cat by 22.6% in the third quarter. Captrust Financial Advisors now owns 1,005,488 shares of the company’s stock worth $10,407,000 after buying an additional 185,209 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in Red Cat by 5.3% in the third quarter. Advisory Services Network LLC now owns 30,200 shares of the company’s stock worth $313,000 after buying an additional 1,507 shares during the last quarter. Institutional investors and hedge funds own 37.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RCAT. Northland Securities set a $22.00 price objective on Red Cat in a research report on Tuesday, January 20th. Wall Street Zen raised Red Cat from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. LADENBURG THALM/SH SH upped their target price on Red Cat from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Needham & Company LLC lifted their price target on Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Red Cat presently has a consensus rating of “Hold” and a consensus price target of $20.67.

Red Cat Stock Performance

Red Cat stock opened at $12.94 on Monday. Red Cat Holdings, Inc. has a 52 week low of $4.60 and a 52 week high of $18.78. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -17.25 and a beta of 1.46. The company has a 50 day moving average price of $13.76 and a 200 day moving average price of $11.46.

Red Cat (NASDAQ:RCAT) last announced its earnings results on Wednesday, March 18th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $26.24 million for the quarter, compared to analyst estimates of $24.50 million. Red Cat had a negative net margin of 176.96% and a negative return on equity of 38.86%. Equities analysts forecast that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Red Cat Profile

Red Cat Holdings, Inc (NASDAQ: RCAT) is a technology holding company that develops and delivers advanced robotics, autonomy, and sensing solutions for defense, national security, public safety and commercial customers. Headquartered in American Fork, Utah, the company brings together a portfolio of specialized operating businesses focused on unmanned aerial systems (UAS), mission management software, precision mapping sensors and engineering services.

Through its UAS segment, Red Cat designs and manufactures small to medium-sized fixed-wing and vertical-takeoff drones that support intelligence, surveillance and reconnaissance (ISR) missions.