Jones Financial Companies Lllp Buys 8,344 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT)

Jones Financial Companies Lllp grew its stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 1,536.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,887 shares of the company’s stock after buying an additional 8,344 shares during the quarter. Jones Financial Companies Lllp’s holdings in Red Cat were worth $114,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in shares of Red Cat during the third quarter worth $25,000. Regency Capital Management Inc. DE bought a new stake in shares of Red Cat in the fourth quarter worth $130,000. Atria Wealth Solutions Inc. bought a new stake in shares of Red Cat in the fourth quarter worth $134,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Red Cat in the fourth quarter worth $139,000. Finally, Gladstone Institutional Advisory LLC grew its stake in shares of Red Cat by 34.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company’s stock worth $172,000 after purchasing an additional 3,400 shares during the last quarter. Institutional investors own 37.97% of the company’s stock.

Analysts Set New Price Targets

RCAT has been the topic of several analyst reports. Northland Capmk raised shares of Red Cat to a “strong-buy” rating in a research note on Monday, March 10th. Northland Securities initiated coverage on shares of Red Cat in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $13.00 price objective on the stock.

Red Cat Stock Performance

Shares of RCAT opened at $5.66 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $453.71 million, a P/E ratio of -10.48 and a beta of 1.32. The firm’s fifty day simple moving average is $8.44 and its two-hundred day simple moving average is $6.57. Red Cat Holdings, Inc. has a 12 month low of $0.70 and a 12 month high of $15.27.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results on Monday, December 16th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.27). Red Cat had a negative net margin of 232.62% and a negative return on equity of 96.00%. During the same quarter in the prior year, the firm posted ($0.11) EPS. As a group, analysts predict that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.

Insider Buying and Selling at Red Cat

In other news, CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $10.44, for a total transaction of $1,188,312.12. Following the transaction, the executive now owns 558,325 shares of the company’s stock, valued at $5,828,913. This represents a 16.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider George Michael Matus sold 309,491 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $14.27, for a total transaction of $4,416,436.57. Following the transaction, the insider now directly owns 304,406 shares in the company, valued at $4,343,873.62. This trade represents a 50.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,930,441 shares of company stock valued at $21,099,751. 21.50% of the stock is currently owned by insiders.

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.