54,500 Shares in Red Cat Holdings, Inc. (NASDAQ:RCAT) Purchased by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. bought a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 54,500 shares of the company’s stock, valued at approximately $138,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in Red Cat in the 2nd quarter valued at approximately $267,000. Sheets Smith Wealth Management acquired a new stake in Red Cat in the third quarter valued at $51,000. PVG Asset Management Corp purchased a new position in shares of Red Cat in the second quarter valued at $63,000. XTX Topco Ltd raised its stake in shares of Red Cat by 390.9% during the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after buying an additional 46,897 shares during the last quarter. Finally, United Capital Management of KS Inc. purchased a new stake in shares of Red Cat in the 3rd quarter worth about $108,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

Red Cat Trading Up 7.1 %

NASDAQ:RCAT opened at $9.61 on Tuesday. The company has a market capitalization of $725.17 million, a P/E ratio of -20.89 and a beta of -0.07. The firm has a 50-day moving average price of $3.64 and a two-hundred day moving average price of $2.45. Red Cat Holdings, Inc. has a twelve month low of $0.52 and a twelve month high of $10.25.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Monday, September 23rd. The company reported ($0.17) earnings per share for the quarter. Red Cat had a negative return on equity of 66.19% and a negative net margin of 162.50%. The business had revenue of $2.78 million for the quarter. On average, equities research analysts predict that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

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.