Virtu Financial LLC Makes New $217,000 Investment in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Virtu Financial LLC acquired a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 16,921 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds have also recently made changes to their positions in the company. Silver Oak Securities Incorporated increased its holdings in shares of Red Cat by 502.3% in the fourth 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 period. N.E.W. Advisory Services LLC acquired a new position in Red Cat in the 4th quarter worth approximately $423,000. Centiva Capital LP purchased a new position in Red Cat during the 3rd quarter worth approximately $207,000. Wolverine Trading LLC acquired a new stake in Red Cat during the 3rd quarter valued at approximately $233,000. Finally, 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 acquiring an additional 68,800 shares during the last quarter. 37.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Red Cat

In other Red Cat news, Director Joseph David Freedman sold 15,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $14.24, for a total transaction of $213,600.00. Following the transaction, the director now owns 585,190 shares in the company, valued at approximately $8,333,105.60. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on RCAT. Northland Capmk raised shares of Red Cat to a “strong-buy” rating in a report on Monday, March 10th. Northland Securities initiated coverage on 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 Stock Performance

RCAT opened at $5.89 on Friday. The firm has a fifty day moving average price of $7.40 and a 200 day moving average price of $6.74. Red Cat Holdings, Inc. has a 1 year low of $0.75 and a 1 year high of $15.27. The stock has a market cap of $504.28 million, a P/E ratio of -10.91 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60.

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.