Wolverine Trading LLC Makes New $233,000 Investment in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Wolverine Trading LLC purchased a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 90,852 shares of the company’s stock, valued at approximately $233,000. Wolverine Trading LLC owned 0.12% of Red Cat as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RCAT. Renaissance Technologies LLC acquired a new stake in shares of Red Cat in the second quarter worth approximately $267,000. State Street Corp boosted its holdings in shares of Red Cat by 44.9% in the 3rd quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after purchasing an additional 68,800 shares during the last quarter. Corsair Capital Management L.P. purchased a new stake in shares of Red Cat during the 3rd quarter valued at $308,000. Centiva Capital LP acquired a new stake in shares of Red Cat during the 3rd quarter worth $207,000. Finally, XTX Topco Ltd raised its position in shares of Red Cat by 390.9% in the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after buying an additional 46,897 shares during the period. Institutional investors and hedge funds own 37.97% of the company’s stock.

Red Cat Trading Up 14.5 %

RCAT stock opened at $8.23 on Monday. The company has a market cap of $621.04 million, a PE ratio of -17.89 and a beta of 1.33. The stock has a 50-day moving average price of $5.27 and a two-hundred day moving average price of $3.21. Red Cat Holdings, Inc. has a 12-month low of $0.55 and a 12-month high of $12.57.

Red Cat (NASDAQ:RCAT) last issued its earnings results on Monday, September 23rd. The company reported ($0.17) earnings per share (EPS) for the quarter. Red Cat had a negative return on equity of 66.19% and a negative net margin of 162.50%. The firm had revenue of $2.78 million for the quarter. Equities analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

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.