Ring Mountain Capital LLC Purchases Shares of 10,686 Red Cat Holdings, Inc. $RCAT

Ring Mountain Capital LLC purchased a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 10,686 shares of the company’s stock, valued at approximately $78,000.

Several other large investors have also recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Red Cat by 407.0% in the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock valued at $44,000 after acquiring an additional 2,727 shares during the period. U.S. Capital Wealth Advisors LLC raised its holdings in Red Cat by 30.0% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company’s stock valued at $83,000 after acquiring an additional 3,250 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Red Cat by 4.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 120,297 shares of the company’s stock valued at $707,000 after acquiring an additional 4,587 shares during the period. SBI Securities Co. Ltd. raised its holdings in Red Cat by 104.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company’s stock valued at $56,000 after acquiring an additional 4,835 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Red Cat by 28,681.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,044 shares of the company’s stock valued at $44,000 after acquiring an additional 6,023 shares during the period. 37.97% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Christopher R. Moe sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $10.11, for a total transaction of $303,300.00. Following the completion of the transaction, the director owned 73,073 shares of the company’s stock, valued at approximately $738,768.03. This trade represents a 29.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 86,833 shares of company stock worth $861,560 over the last ninety days. 15.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Northland Securities set a $16.00 target price on shares of Red Cat in a report on Friday, August 15th. LADENBURG THALM/SH SH raised shares of Red Cat to a “strong-buy” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a report on Wednesday, October 8th. Wall Street Zen cut shares of Red Cat from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Finally, Needham & Company LLC assumed coverage on shares of Red Cat in a report on Friday, October 3rd. They set a “buy” rating and a $17.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $16.50.

Red Cat Price Performance

Shares of Red Cat stock opened at $9.48 on Wednesday. Red Cat Holdings, Inc. has a fifty-two week low of $3.17 and a fifty-two week high of $16.70. The firm has a market capitalization of $1.12 billion, a P/E ratio of -20.61 and a beta of 1.45. The company’s 50 day moving average price is $11.03 and its two-hundred day moving average price is $8.85.

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.