Cannell & Spears LLC Purchases New Shares in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Cannell & Spears LLC purchased a new stake in 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. The fund purchased 50,000 shares of the company's stock, valued at approximately $642,000. Cannell & Spears LLC owned 0.06% of Red Cat as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in shares of Red Cat in the third quarter worth about $25,000. Twin Tree Management LP acquired a new position in Red Cat during the fourth quarter worth $28,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Red Cat during the 4th quarter worth about $48,000. SBI Securities Co. Ltd. acquired a new position in Red Cat during the fourth quarter valued at approximately $60,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Red Cat by 1,536.6% in the 4th quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company's stock valued at $114,000 after buying an additional 8,344 shares during the last quarter. Institutional investors own 37.97% of the company's stock.

Analysts Set New Price Targets

RCAT has been the topic of a number of research analyst reports. Northland Securities assumed coverage on shares of Red Cat in a report on Tuesday, March 11th. They issued an "outperform" rating and a $13.00 target price on the stock. Northland Capmk raised Red Cat to a "strong-buy" rating in a research report on Monday, March 10th.

Red Cat Stock Performance

Shares of RCAT traded down $0.62 during trading hours on Friday, hitting $6.17. The company had a trading volume of 4,553,145 shares, compared to its average volume of 4,097,699. The business has a fifty day moving average of $7.20 and a 200-day moving average of $6.90. 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 firm has a market cap of $528.45 million, a price-to-earnings ratio of -11.43 and a beta of 1.34. Red Cat Holdings, Inc. has a 12 month low of $0.78 and a 12 month high of $15.27.

Red Cat 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.