Sheets Smith Wealth Management Makes New $51,000 Investment in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Sheets Smith Wealth Management acquired a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) in the 3rd quarter, HoldingsChannel reports. The fund acquired 20,000 shares of the company’s stock, valued at approximately $51,000.

Other institutional investors also recently modified their holdings of the company. PVG Asset Management Corp purchased a new position in Red Cat during the 2nd quarter valued at about $63,000. XTX Topco Ltd increased its stake in shares of Red Cat by 390.9% during the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after buying an additional 46,897 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Red Cat during the second quarter valued at approximately $267,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Red Cat Stock Up 2.0 %

Shares of RCAT stock opened at $3.64 on Monday. The stock has a fifty day moving average of $3.03 and a 200 day moving average of $2.12. The firm has a market capitalization of $274.49 million, a price-to-earnings ratio of -7.91 and a beta of -0.07. Red Cat Holdings, Inc. has a 52 week low of $0.52 and a 52 week high of $3.94.

Red Cat (NASDAQ:RCAT) last announced its earnings results on Monday, September 23rd. The company reported ($0.17) earnings per share for the quarter. Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. The company had revenue of $2.78 million for the quarter. Equities research analysts anticipate that Red Cat Holdings, Inc. will post -0.33 earnings per share for the current year.

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.