Rockefeller Capital Management L.P. Takes Position in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Rockefeller Capital Management L.P. acquired a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 515,769 shares of the company's stock, valued at approximately $6,628,000. Rockefeller Capital Management L.P. owned about 0.64% of Red Cat as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RCAT. Waddell & Associates LLC acquired a new stake in shares of Red Cat during the fourth quarter worth $159,643,000. Vanguard Group Inc. lifted its stake in shares of Red Cat by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company's stock worth $32,197,000 after acquiring an additional 207,727 shares during the period. Geode Capital Management LLC increased its stake in shares of Red Cat by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 602,596 shares of the company's stock worth $7,747,000 after acquiring an additional 10,594 shares during the period. State Street Corp raised its holdings in Red Cat by 44.9% during the third quarter. State Street Corp now owns 221,958 shares of the company's stock worth $564,000 after purchasing an additional 68,800 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Red Cat in the fourth quarter valued at about $1,527,000. 37.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on RCAT. Northland Capmk upgraded Red Cat to a "strong-buy" rating in a research report on Monday, March 10th. Northland Securities initiated coverage on Red Cat in a report on Tuesday, March 11th. They set an "outperform" rating and a $13.00 price objective on the stock.

Red Cat Price Performance

RCAT stock traded up $0.12 during trading on Tuesday, reaching $4.78. 2,956,867 shares of the company were exchanged, compared to its average volume of 4,271,183. 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 stock's 50 day moving average price is $6.19 and its 200 day moving average price is $7.17. Red Cat Holdings, Inc. has a 52-week low of $0.80 and a 52-week high of $15.27. The company has a market cap of $410.04 million, a P/E ratio of -8.85 and a beta of 1.34.

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.