UBS Group AG Buys 158,864 Shares of Red Cat Holdings, Inc. $RCAT

UBS Group AG boosted its stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 37.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 580,099 shares of the company’s stock after buying an additional 158,864 shares during the quarter. UBS Group AG’s holdings in Red Cat were worth $4,600,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RCAT. IFP Advisors Inc raised its holdings in shares of Red Cat by 181.1% in the 3rd quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock valued at $28,000 after purchasing an additional 1,720 shares in the last quarter. Montag A & Associates Inc. raised its holdings in shares of Red Cat by 552.0% in the 3rd quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock valued at $34,000 after purchasing an additional 2,760 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of 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 purchasing an additional 2,727 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of Red Cat in the 3rd quarter valued at about $46,000. Finally, California State Teachers Retirement System bought a new stake in shares of Red Cat in the 2nd quarter valued at about $34,000. Institutional investors own 37.97% of the company’s stock.

Red Cat Stock Up 4.2%

Shares of Red Cat stock opened at $9.41 on Friday. The firm’s 50 day moving average price is $12.41 and its 200-day moving average price is $11.34. Red Cat Holdings, Inc. has a 52-week low of $5.71 and a 52-week high of $18.78. The company has a market cap of $1.15 billion, a P/E ratio of -13.44 and a beta of 1.21.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.22) earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $17.63 million. The firm’s quarterly revenue was up 849.1% on a year-over-year basis. As a group, equities research analysts forecast that Red Cat Holdings, Inc. will post -0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Red Cat from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Needham & Company LLC lifted their price objective on shares of Red Cat from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. LADENBURG THALM/SH SH raised shares of Red Cat to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, Clear Str raised shares of Red Cat to a “strong-buy” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $20.67.

Red Cat 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.