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

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 115,710 shares of the company’s stock, valued at approximately $1,527,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.14% of Red Cat at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Twin Tree Management LP acquired a new position in Red Cat during the 4th quarter worth $28,000. United Capital Management of KS Inc. raised its position in shares of Red Cat by 7.4% during the 4th quarter. United Capital Management of KS Inc. now owns 45,650 shares of the company’s stock worth $587,000 after purchasing an additional 3,150 shares during the period. Gladstone Institutional Advisory LLC lifted its holdings in shares of Red Cat by 34.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company’s stock worth $172,000 after purchasing an additional 3,400 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in Red Cat during the 4th quarter valued at approximately $48,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Red Cat during the fourth quarter valued at $60,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

Red Cat Price Performance

NASDAQ RCAT opened at $6.39 on Wednesday. Red Cat Holdings, Inc. has a 1 year low of $0.77 and a 1 year high of $15.27. The business’s fifty day moving average is $7.30 and its two-hundred day moving average is $6.84. The stock has a market capitalization 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.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RCAT. Northland Securities assumed coverage on Red Cat in a research report on Tuesday, March 11th. They set an “outperform” rating and a $13.00 price objective for the company. Northland Capmk upgraded Red Cat to a “strong-buy” rating in a report 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.