Mitsubishi UFJ Asset Management Co. Ltd. Acquires 4,587 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,297 shares of the company’s stock after buying an additional 4,587 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of Red Cat worth $707,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Moors & Cabot Inc. raised its position in Red Cat by 293.0% in the first quarter. Moors & Cabot Inc. now owns 169,600 shares of the company’s stock valued at $997,000 after purchasing an additional 126,450 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in Red Cat in the first quarter valued at about $89,000. XTX Topco Ltd bought a new position in Red Cat in the first quarter valued at about $229,000. SBI Securities Co. Ltd. raised its position in Red Cat by 104.4% in the first quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company’s stock valued at $56,000 after purchasing an additional 4,835 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its position in Red Cat by 30.0% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company’s stock valued at $83,000 after purchasing an additional 3,250 shares during the last quarter. 37.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Joseph David Freedman sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $7.37, for a total transaction of $1,105,500.00. Following the completion of the sale, the director owned 165,260 shares of the company’s stock, valued at $1,217,966.20. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nicholas Reyland Liuzza, Jr. sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $8.58, for a total value of $858,000.00. Following the sale, the director directly owned 387,445 shares of the company’s stock, valued at $3,324,278.10. This represents a 20.52% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 350,309 shares of company stock valued at $2,635,570. Insiders own 15.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RCAT shares. Northland Securities set a $15.00 target price on Red Cat in a research report on Tuesday, August 5th. Wall Street Zen upgraded Red Cat from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th.

Red Cat Trading Down 1.2%

Shares of RCAT stock opened at $9.39 on Thursday. The stock has a market cap of $863.69 million, a price-to-earnings ratio of -17.39 and a beta of 1.44. The stock has a 50-day moving average of $8.48 and a 200-day moving average of $7.28. Red Cat Holdings, Inc. has a 1-year low of $2.31 and a 1-year high of $15.27.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.17). Sell-side analysts forecast that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Red Cat Company 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.