Integrated Wealth Concepts LLC Takes Position in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Integrated Wealth Concepts LLC bought a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 117,595 shares of the company’s stock, valued at approximately $1,511,000. Integrated Wealth Concepts LLC owned 0.15% of Red Cat as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Twin Tree Management LP purchased a new position in shares of Red Cat during the fourth quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Red Cat during the fourth quarter valued at approximately $48,000. SBI Securities Co. Ltd. purchased a new position in shares of Red Cat during the fourth quarter valued at approximately $60,000. Jones Financial Companies Lllp increased its stake in shares of Red Cat by 1,536.6% during the fourth quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company’s stock valued at $114,000 after buying an additional 8,344 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Red Cat during the fourth quarter valued at approximately $118,000. 37.97% of the stock is owned by hedge funds and other institutional investors.

Red Cat Trading Up 0.4 %

NASDAQ RCAT opened at $5.21 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. Red Cat Holdings, Inc. has a twelve month low of $0.80 and a twelve month high of $15.27. The firm has a market capitalization of $471.58 million, a PE ratio of -9.65 and a beta of 1.34. The stock’s 50 day moving average is $5.90 and its 200 day moving average is $7.25.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Northland Securities assumed coverage on Red Cat in a research report on Tuesday, March 11th. They set an “outperform” rating and a $13.00 price target on the stock. Northland Capmk upgraded Red Cat to a “strong-buy” rating in a research report on Monday, March 10th.

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.