Mark Sheptoff Financial Planning LLC Invests $48,000 in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Mark Sheptoff Financial Planning LLC purchased a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,700 shares of the company’s stock, valued at approximately $48,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pekin Hardy Strauss Inc. bought a new stake in shares of Red Cat in the 3rd quarter valued at approximately $138,000. Corsair Capital Management L.P. purchased a new stake in Red Cat during the 3rd quarter valued at $308,000. Centiva Capital LP bought a new stake in Red Cat in the third quarter worth $207,000. State Street Corp increased its position in Red Cat by 44.9% during the third quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after acquiring an additional 68,800 shares during the last quarter. Finally, Wolverine Trading LLC purchased a new stake in shares of Red Cat in the third quarter valued at $233,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Red Cat Trading Up 3.0 %

NASDAQ RCAT opened at $6.16 on Wednesday. Red Cat Holdings, Inc. has a 12 month low of $0.75 and a 12 month high of $15.27. The company’s 50-day moving average price is $7.63 and its 200-day moving average price is $6.73. The stock has a market cap of $527.40 million, a PE ratio of -11.41 and a beta of 1.32. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30.

Wall Street Analyst Weigh In

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

Insider Transactions at Red Cat

In other Red Cat news, Director Joseph David Freedman sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $14.24, for a total transaction of $213,600.00. Following the transaction, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nicholas Reyland Liuzza, Jr. sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $13.92, for a total transaction of $278,400.00. Following the completion of the sale, the director now directly owns 461,072 shares of the company’s stock, valued at $6,418,122.24. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 373,247 shares of company stock valued at $5,310,158. 21.50% of the stock is currently owned by company insiders.

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.