Pekin Hardy Strauss Inc. Makes New Investment in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Pekin Hardy Strauss Inc. acquired a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 54,500 shares of the company's stock, valued at approximately $138,000. Pekin Hardy Strauss Inc. owned 0.07% of Red Cat at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in Red Cat during the 2nd quarter worth approximately $267,000. Sheets Smith Wealth Management acquired a new position in Red Cat during the 3rd quarter worth approximately $51,000. PVG Asset Management Corp bought a new stake in Red Cat during the 2nd quarter worth approximately $63,000. XTX Topco Ltd increased its holdings in Red Cat by 390.9% during the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company's stock worth $68,000 after purchasing an additional 46,897 shares in the last quarter. Finally, United Capital Management of KS Inc. bought a new stake in Red Cat during the 3rd quarter worth approximately $108,000. 37.97% of the stock is owned by institutional investors and hedge funds.

Red Cat Stock Performance

RCAT traded down $1.25 during midday trading on Tuesday, reaching $8.36. 10,447,174 shares of the company were exchanged, compared to its average volume of 1,301,170. The company's fifty day moving average price is $3.64 and its 200 day moving average price is $2.45. The company has a market cap of $630.85 million, a price-to-earnings ratio of -18.17 and a beta of -0.07. Red Cat Holdings, Inc. has a one year low of $0.52 and a one year high of $10.25.

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

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.