Daiwa Securities Group Inc. Invests $118,000 in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Daiwa Securities Group Inc. acquired a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 9,216 shares of the company’s stock, valued at approximately $118,000.

A number of other large investors have also recently bought and sold shares of the business. Pekin Hardy Strauss Inc. acquired a new stake in shares of Red Cat in the third quarter worth about $138,000. Corsair Capital Management L.P. acquired a new stake in Red Cat in the 3rd quarter worth approximately $308,000. Centiva Capital LP bought a new stake in Red Cat during the third quarter worth approximately $207,000. State Street Corp boosted its position in Red Cat by 44.9% during the third quarter. State Street Corp now owns 221,958 shares of the company’s stock worth $564,000 after purchasing an additional 68,800 shares during the period. Finally, Wolverine Trading LLC bought a new position in shares of Red Cat in the third quarter valued at approximately $233,000. 37.97% of the stock is currently owned by institutional investors.

Red Cat Stock Up 2.3 %

Shares of RCAT stock opened at $5.79 on Tuesday. Red Cat Holdings, Inc. has a 12 month low of $0.70 and a 12 month high of $15.27. 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 firm has a market cap of $495.72 million, a PE ratio of -10.72 and a beta of 1.32. The stock has a 50 day moving average of $8.28 and a 200-day moving average of $6.62.

Red Cat (NASDAQ:RCAT) last released its earnings results on Monday, December 16th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.27). Red Cat had a negative net margin of 232.62% and a negative return on equity of 96.00%. During the same quarter last year, the firm earned ($0.11) EPS. On average, equities analysts predict that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.

Insider Transactions at Red Cat

In other news, insider George Michael Matus sold 112,686 shares of Red Cat stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $9.20, for a total transaction of $1,036,711.20. Following the sale, the insider now owns 973,103 shares of the company’s stock, valued at approximately $8,952,547.60. This trade represents a 10.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $10.44, for a total value of $1,188,312.12. Following the completion of the transaction, the executive now owns 558,325 shares of the company’s stock, valued at $5,828,913. The trade was a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,930,441 shares of company stock worth $21,099,751. 21.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Northland Capmk raised shares of Red Cat to a “strong-buy” rating in a report on Monday, March 10th. Northland Securities started coverage on shares of Red Cat in a research report on Tuesday, March 11th. They set an “outperform” rating and a $13.00 target price for the company.

About Red Cat

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.