Vanguard Group Inc. Has $47.58 Million Stake in Red Cat Holdings, Inc. $RCAT

Vanguard Group Inc. grew its position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,000,037 shares of the company’s stock after acquiring an additional 493,660 shares during the quarter. Vanguard Group Inc. owned 5.03% of Red Cat worth $47,580,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC acquired a new stake in Red Cat in the 4th quarter valued at $111,000. Arizona State Retirement System boosted its position in Red Cat by 3.0% during the fourth quarter. Arizona State Retirement System now owns 29,311 shares of the company’s stock valued at $232,000 after purchasing an additional 855 shares during the last quarter. N.E.W. Advisory Services LLC boosted its position in Red Cat by 163.5% during the fourth quarter. N.E.W. Advisory Services LLC now owns 5,356 shares of the company’s stock valued at $42,000 after purchasing an additional 3,323 shares during the last quarter. Emissary Wealth LLC acquired a new position in Red Cat during the fourth quarter valued at approximately $221,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Red Cat by 110.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,849 shares of the company’s stock valued at $300,000 after purchasing an additional 19,829 shares during the last quarter. Institutional investors and hedge funds own 37.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RCAT. Clear Str upgraded shares of Red Cat to a “strong-buy” rating in a report on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a report on Tuesday, April 21st. Needham & Company LLC boosted their target price on shares of Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. LADENBURG THALM/SH SH upgraded shares of Red Cat to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Northland Securities set a $22.00 target price on shares of Red Cat in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $20.67.

Red Cat Stock Performance

RCAT opened at $9.49 on Friday. Red Cat Holdings, Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $18.78. The company has a market capitalization of $1.16 billion, a P/E ratio of -13.56 and a beta of 1.21. The stock has a fifty day moving average of $13.02 and a 200-day moving average of $11.41.

Red Cat (NASDAQ:RCAT) last posted its earnings results on Thursday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). Red Cat had a negative return on equity of 35.86% and a negative net margin of 138.36%.The firm had revenue of $15.47 million for the quarter, compared to analyst estimates of $17.63 million. Red Cat’s quarterly revenue was up 849.1% compared to the same quarter last year. On average, equities research analysts predict that Red Cat Holdings, Inc. will post -0.65 earnings per share for the current fiscal year.

Red Cat Company Profile

Red Cat Holdings, Inc (NASDAQ: RCAT) is a technology holding company that develops and delivers advanced robotics, autonomy, and sensing solutions for defense, national security, public safety and commercial customers. Headquartered in American Fork, Utah, the company brings together a portfolio of specialized operating businesses focused on unmanned aerial systems (UAS), mission management software, precision mapping sensors and engineering services.

Through its UAS segment, Red Cat designs and manufactures small to medium-sized fixed-wing and vertical-takeoff drones that support intelligence, surveillance and reconnaissance (ISR) missions.