Red Cat Holdings, Inc. $RCAT Shares Bought by WINTON GROUP Ltd

WINTON GROUP Ltd grew its holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT) by 289.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 107,890 shares of the company’s stock after buying an additional 80,190 shares during the period. WINTON GROUP Ltd’s holdings in Red Cat were worth $1,149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RCAT. Integrated Wealth Concepts LLC acquired a new position in Red Cat in the 2nd quarter valued at about $42,000. Arizona State Retirement System lifted its position in Red Cat by 23.4% during the 2nd quarter. Arizona State Retirement System now owns 36,426 shares of the company’s stock worth $388,000 after acquiring an additional 6,917 shares during the period. Corient Private Wealth LP grew its stake in shares of Red Cat by 135.5% in the 2nd quarter. Corient Private Wealth LP now owns 27,310 shares of the company’s stock valued at $291,000 after purchasing an additional 15,712 shares during the last quarter. Kingsbury Capital Investment Advisors LLC increased its holdings in shares of Red Cat by 22.7% in the second quarter. Kingsbury Capital Investment Advisors LLC now owns 13,556 shares of the company’s stock valued at $144,000 after purchasing an additional 2,512 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Red Cat in the second quarter valued at approximately $200,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Red Cat Price Performance

Shares of RCAT opened at $7.96 on Monday. The company has a 50-day simple moving average of $8.75 and a 200-day simple moving average of $11.07. The company has a market capitalization of $977.01 million, a PE ratio of -9.83 and a beta of 1.35. Red Cat Holdings, Inc. has a 52-week low of $5.77 and a 52-week high of $18.78.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). Red Cat had a negative return on equity of 32.25% and a negative net margin of 136.26%.The company had revenue of $20.20 million for the quarter, compared to analysts’ expectations of $22.65 million. On average, research analysts anticipate that Red Cat Holdings, Inc. will post -0.77 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Needham & Company LLC decreased their price target on Red Cat from $20.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 7th. Piper Sandler assumed coverage on shares of Red Cat in a research note on Wednesday, September 2nd. They issued a “neutral” rating and a $9.00 price objective on the stock. UBS Group began coverage on shares of Red Cat in a research report on Wednesday, May 27th. They set a “buy” rating for the company. Roth Capital began coverage on shares of Red Cat in a research note on Monday, June 1st. They issued a “buy” rating and a $25.00 target price for the company. Finally, Wall Street Zen downgraded shares of Red Cat from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Red Cat currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Insider Buying and Selling

In related news, Director Nicholas Reyland Liuzza, Jr. sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $10.63, for a total value of $584,650.00. Following the sale, the director owned 489,874 shares in the company, valued at $5,207,360.62. This represents a 10.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christopher R. Moe sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $10.51, for a total value of $210,200.00. Following the completion of the transaction, the director directly owned 200,502 shares of the company’s stock, valued at $2,107,276.02. The trade was a 9.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 12.50% of the stock is currently owned by company insiders.

About Red Cat

Red Cat Holdings, Inc is a drone technology company that develops and supplies small unmanned aircraft systems for military, government, public safety and commercial applications. Its solutions are designed to support intelligence, surveillance and reconnaissance, situational awareness, and other missions requiring portable and rapidly deployable aerial systems.

Through its Teal Drones business, Red Cat offers the Teal 2 and related Black Widow systems, compact drones designed for defense and public-safety users.