50,000 Shares in Red Cat Holdings, Inc. (NASDAQ:RCAT) Acquired by Cannell & Spears LLC

Cannell & Spears LLC bought a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the company’s stock, valued at approximately $642,000. Cannell & Spears LLC owned about 0.06% of Red Cat as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Twin Tree Management LP acquired a new stake in shares of Red Cat in the 4th quarter valued at $28,000. United Capital Management of KS Inc. lifted its position in shares of Red Cat by 7.4% in the fourth quarter. United Capital Management of KS Inc. now owns 45,650 shares of the company’s stock worth $587,000 after buying an additional 3,150 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its stake in shares of Red Cat by 34.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company’s stock worth $172,000 after acquiring an additional 3,400 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Red Cat during the 4th quarter valued at about $48,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Red Cat in the 4th quarter valued at approximately $60,000. 37.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Red Cat Price Performance

Shares of NASDAQ:RCAT opened at $5.88 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $7.34 and a 200 day moving average price of $6.82. The company has a market cap of $503.43 million, a price-to-earnings ratio of -10.89 and a beta of 1.32. Red Cat Holdings, Inc. has a twelve month low of $0.75 and a twelve month high of $15.27.

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.