LPL Financial LLC Purchases 61,615 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT)

LPL Financial LLC increased its holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 497.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,008 shares of the company's stock after buying an additional 61,615 shares during the quarter. LPL Financial LLC owned about 0.09% of Red Cat worth $951,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RCAT. Sanctuary Advisors LLC purchased a new position in Red Cat during the 3rd quarter valued at about $25,000. Twin Tree Management LP purchased a new position in Red Cat during the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new position in Red Cat during the fourth quarter valued at approximately $60,000. Jones Financial Companies Lllp lifted its position in Red Cat by 1,536.6% in the 4th quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company's stock worth $114,000 after buying an additional 8,344 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Red Cat during the 4th quarter valued at $118,000. 37.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Red Cat Stock Up 5.7 %

Shares of NASDAQ:RCAT traded up $0.29 on Thursday, reaching $5.29. The company had a trading volume of 2,760,454 shares, compared to its average volume of 4,275,495. 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 stock has a market capitalization of $453.36 million, a P/E ratio of -9.79 and a beta of 1.34. The stock has a 50-day moving average price of $6.11 and a 200 day moving average price of $7.15. Red Cat Holdings, Inc. has a twelve month low of $0.80 and a twelve 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.