Waddell & Associates LLC purchased a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,423,587 shares of the company's stock, valued at approximately $159,643,000. Red Cat accounts for approximately 16.3% of Waddell & Associates LLC's portfolio, making the stock its biggest holding. Waddell & Associates LLC owned about 15.50% of Red Cat as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in RCAT. Centiva Capital LP bought a new position in Red Cat in the 3rd quarter worth approximately $207,000. State Street Corp increased its holdings in 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 purchasing an additional 68,800 shares in the last quarter. Wolverine Trading LLC bought a new stake in Red Cat during the 3rd quarter worth about $233,000. Sanctuary Advisors LLC acquired a new stake in shares of Red Cat in the 3rd quarter valued at $25,000. Finally, Kieckhefer Group LLC bought a new stake in Red Cat in the fourth quarter valued at about $296,000. Institutional investors and hedge funds own 37.97% of the company's stock.
Analyst Ratings Changes
Several analysts have commented on RCAT shares. Northland Capmk upgraded shares of Red Cat to a "strong-buy" rating in a report on Monday, March 10th. Northland Securities began coverage on Red Cat in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $13.00 price objective on the stock.
View Our Latest Research Report on RCAT
Red Cat Price Performance
Shares of NASDAQ RCAT traded down $0.16 during midday trading on Monday, reaching $6.00. The company's stock had a trading volume of 2,480,922 shares, compared to its average volume of 4,218,953. The company has a market cap of $513.89 million, a P/E ratio of -11.11 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43. The business's 50 day moving average price is $6.87 and its two-hundred day moving average price is $7.09. Red Cat Holdings, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $15.27.
About Red Cat
(
Free Report)
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.
Further Reading
Before you consider Red Cat, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Red Cat wasn't on the list.
While Red Cat currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
