Fox Hill Wealth Management Acquires Shares of 17,027 Red Cat Holdings, Inc. (NASDAQ:RCAT)

Fox Hill Wealth Management acquired a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 17,027 shares of the company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of Red Cat during the third quarter valued at $25,000. Twin Tree Management LP bought a new position in shares of Red Cat during the fourth quarter valued at $28,000. SBI Securities Co. Ltd. bought a new position in shares of Red Cat during the fourth quarter valued at $60,000. Jones Financial Companies Lllp lifted its holdings in shares of Red Cat by 1,536.6% during the fourth quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company’s stock valued at $114,000 after acquiring an additional 8,344 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in shares of Red Cat during the fourth quarter valued at $118,000. 37.97% of the stock is owned by institutional investors.

Insider Activity

In other news, CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $10.44, for a total value of $1,188,312.12. Following the completion of the sale, the executive now directly owns 558,325 shares of the company’s stock, valued at $5,828,913. This represents a 16.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph David Freedman sold 15,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $14.24, for a total value of $213,600.00. Following the completion of the sale, the director now directly owns 585,190 shares of the company’s stock, valued at approximately $8,333,105.60. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,488,827 shares of company stock valued at $17,336,227 in the last ninety days. 21.50% of the stock is owned by insiders.

Red Cat Stock Performance

Red Cat stock opened at $5.15 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. Red Cat Holdings, Inc. has a 1 year low of $0.70 and a 1 year high of $15.27. The company has a market cap of $440.93 million, a PE ratio of -9.54 and a beta of 1.32. The company’s 50-day moving average is $8.12 and its two-hundred day moving average is $6.63.

Red Cat (NASDAQ:RCAT) last released its earnings results on Monday, December 16th. The company reported ($0.18) earnings per share (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 last year, the company earned ($0.11) EPS. Equities analysts anticipate that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on RCAT. Northland Securities began coverage on Red Cat in a report on Tuesday, March 11th. They issued an “outperform” rating and a $13.00 price target for the company. Northland Capmk raised Red Cat to a “strong-buy” rating in a report on Monday, March 10th.

About Red Cat

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.