Red Cat Holdings, Inc. $RCAT Stock Holdings Cut by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. cut its position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 30.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,500 shares of the company’s stock after selling 10,000 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Red Cat were worth $164,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of RCAT. Caitong International Asset Management Co. Ltd boosted its stake in Red Cat by 28,681.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,044 shares of the company’s stock valued at $44,000 after buying an additional 6,023 shares in the last quarter. Bank of America Corp DE raised its position in Red Cat by 407.0% in the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock worth $44,000 after acquiring an additional 2,727 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Red Cat by 104.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company’s stock valued at $56,000 after acquiring an additional 4,835 shares during the last quarter. AlphaQuest LLC acquired a new stake in Red Cat in the 2nd quarter valued at about $67,000. Finally, Ring Mountain Capital LLC bought a new position in shares of Red Cat during the 2nd quarter valued at about $78,000. Institutional investors own 37.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on RCAT shares. Northland Securities set a $16.00 target price on shares of Red Cat in a report on Friday, August 15th. Needham & Company LLC started coverage on shares of Red Cat in a research report on Friday, October 3rd. They issued a “buy” rating and a $17.00 price target on the stock. Wall Street Zen cut Red Cat from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a research report on Thursday, October 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Red Cat presently has an average rating of “Buy” and an average target price of $16.50.

Red Cat Stock Performance

Shares of NASDAQ:RCAT opened at $9.28 on Friday. The firm has a 50 day simple moving average of $11.03 and a 200 day simple moving average of $8.92. Red Cat Holdings, Inc. has a 52 week low of $3.41 and a 52 week high of $16.70. The company has a market cap of $1.10 billion, a PE ratio of -20.17 and a beta of 1.45.

Insider Activity

In other news, Director Christopher R. Moe sold 10,000 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $10.91, for a total value of $109,100.00. Following the completion of the sale, the director owned 53,073 shares of the company’s stock, valued at $579,026.43. This trade represents a 15.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 86,833 shares of company stock valued at $861,560 in the last ninety days. 15.30% of the stock is owned by corporate insiders.

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.