Raymond James Financial Inc. Acquires New Position in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Raymond James Financial Inc. bought a new position in Red Cat Holdings, Inc. (NASDAQ:RCAT) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 37,214 shares of the company’s stock, valued at approximately $478,000.

Several other large investors have also bought and sold shares of RCAT. State Street Corp grew its holdings in shares of 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 buying an additional 68,800 shares during the last quarter. Wolverine Trading LLC bought a new position in Red Cat in the 3rd quarter valued at approximately $233,000. Centiva Capital LP bought a new position in Red Cat in the 3rd quarter valued at approximately $207,000. Silver Oak Securities Incorporated boosted its stake in Red Cat by 502.3% during the 4th quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company’s stock valued at $856,000 after purchasing an additional 50,668 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Red Cat in the 4th quarter worth $423,000. 37.97% of the stock is owned by hedge funds and other institutional investors.

Red Cat Trading Up 5.2 %

Shares of RCAT stock opened at $6.49 on Tuesday. 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 12-month low of $0.78 and a 12-month high of $15.27. The stock has a market capitalization of $555.86 million, a P/E ratio of -12.02 and a beta of 1.34. The firm’s 50 day moving average is $7.16 and its 200 day moving average is $6.95.

Wall Street Analyst Weigh In

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

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.