Corsair Capital Management L.P. Makes New $308,000 Investment in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Corsair Capital Management L.P. purchased a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 121,324 shares of the company's stock, valued at approximately $308,000. Corsair Capital Management L.P. owned 0.16% of Red Cat at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RCAT. Sheets Smith Wealth Management bought a new position in shares of Red Cat during the third quarter worth about $51,000. PVG Asset Management Corp bought a new position in shares of Red Cat during the second quarter worth about $63,000. XTX Topco Ltd grew its stake in Red Cat by 390.9% during the second quarter. XTX Topco Ltd now owns 58,895 shares of the company's stock worth $68,000 after purchasing an additional 46,897 shares during the period. United Capital Management of KS Inc. acquired a new stake in Red Cat during the third quarter worth approximately $108,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in Red Cat during the third quarter worth approximately $138,000. Institutional investors own 37.97% of the company's stock.

Red Cat Stock Performance

Red Cat stock traded up $0.91 during mid-day trading on Wednesday, reaching $9.27. The stock had a trading volume of 7,307,825 shares, compared to its average volume of 1,327,637. The firm has a market capitalization of $699.51 million, a PE ratio of -19.89 and a beta of -0.07. Red Cat Holdings, Inc. has a fifty-two week low of $0.52 and a fifty-two week high of $10.25. The stock's 50-day simple moving average is $3.75 and its 200-day simple moving average is $2.51.

Red Cat (NASDAQ:RCAT - Get Free Report) last issued its earnings results on Monday, September 23rd. The company reported ($0.17) earnings per share (EPS) for the quarter. Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. The firm had revenue of $2.78 million during the quarter. On average, research analysts forecast that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

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.