EAM Investors LLC Sells 181,089 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT)

EAM Investors LLC lowered its stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 60.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,235 shares of the company's stock after selling 181,089 shares during the period. EAM Investors LLC owned approximately 0.15% of Red Cat worth $1,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in Red Cat by 44.9% during the 3rd quarter. State Street Corp now owns 221,958 shares of the company's stock worth $564,000 after acquiring an additional 68,800 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Red Cat in the third quarter worth $25,000. Kieckhefer Group LLC bought a new position in shares of Red Cat during the fourth quarter worth $296,000. Myecfo LLC acquired a new position in shares of Red Cat in the 4th quarter valued at $193,000. Finally, Regency Capital Management Inc. DE bought a new stake in shares of Red Cat in the 4th quarter valued at $130,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Northland Capmk raised Red Cat to a "strong-buy" rating in a research note on Monday, March 10th. Northland Securities initiated coverage on shares of Red Cat in a report on Tuesday, March 11th. They set an "outperform" rating and a $13.00 target price on the stock.

Red Cat Stock Up 1.6 %

RCAT stock traded up $0.08 during trading hours on Tuesday, reaching $4.74. 1,002,781 shares of the stock were exchanged, compared to its average volume of 4,251,004. The company has a market cap of $406.18 million, a price-to-earnings ratio of -8.77 and a beta of 1.34. The firm's 50-day moving average is $6.29 and its 200-day moving average is $7.18. Red Cat Holdings, Inc. has a 12 month low of $0.80 and a 12 month high of $15.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60.

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.