Mitsubishi UFJ Asset Management Co. Ltd. Invests $1.53 Million in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) during the 4th quarter, HoldingsChannel reports. The firm acquired 115,710 shares of the company’s stock, valued at approximately $1,527,000.

A number of other institutional investors also recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in shares of Red Cat during the third quarter worth $25,000. Twin Tree Management LP acquired a new position in Red Cat in the 4th quarter worth about $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Red Cat during the 4th quarter valued at about $48,000. SBI Securities Co. Ltd. bought a new stake in shares of Red Cat in the 4th quarter valued at approximately $60,000. Finally, Jones Financial Companies Lllp increased its holdings in Red Cat by 1,536.6% in the fourth quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company’s stock worth $114,000 after buying an additional 8,344 shares during the last quarter. Institutional investors and hedge funds own 37.97% of the company’s stock.

Red Cat Stock Up 8.7 %

RCAT opened at $6.39 on Wednesday. The firm has a market cap of $547.09 million, a P/E ratio of -11.83 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43. The business has a 50 day moving average price of $7.30 and a 200 day moving average price of $6.84. Red Cat Holdings, Inc. has a twelve month low of $0.77 and a twelve month high of $15.27.

Wall Street Analyst Weigh In

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

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.