Pekin Hardy Strauss Inc. Purchases New Position in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Pekin Hardy Strauss Inc. acquired a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 54,500 shares of the company’s stock, valued at approximately $138,000. Pekin Hardy Strauss Inc. owned about 0.07% of Red Cat as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sheets Smith Wealth Management acquired a new stake in Red Cat during the 3rd quarter worth $51,000. United Capital Management of KS Inc. acquired a new stake in shares of Red Cat during the third quarter worth about $108,000. PVG Asset Management Corp acquired a new position in Red Cat in the 2nd quarter valued at about $63,000. XTX Topco Ltd increased its position in Red Cat by 390.9% in the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after acquiring an additional 46,897 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Red Cat during the 2nd quarter valued at approximately $267,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

Red Cat Trading Up 7.1 %

Shares of RCAT stock opened at $9.61 on Tuesday. Red Cat Holdings, Inc. has a twelve month low of $0.52 and a twelve month high of $10.25. The business’s 50 day moving average is $3.64 and its two-hundred day moving average is $2.45. The company has a market capitalization of $725.17 million, a P/E ratio of -20.89 and a beta of -0.07.

Red Cat (NASDAQ:RCAT) last posted its quarterly 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. As a group, equities analysts predict that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

About Red Cat

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.