Arrowstreet Capital Limited Partnership Takes Position in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Arrowstreet Capital Limited Partnership acquired a new position in Red Cat Holdings, Inc. (NASDAQ:RCAT) during the fourth quarter, Holdings Channel reports. The firm acquired 106,487 shares of the company’s stock, valued at approximately $1,368,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Red Cat by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company’s stock worth $32,197,000 after acquiring an additional 207,727 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Red Cat in the fourth quarter worth approximately $1,527,000. Wolverine Trading LLC purchased a new stake in Red Cat in the third quarter valued at approximately $233,000. Centiva Capital LP purchased a new stake in Red Cat in the third quarter valued at approximately $207,000. Finally, State Street Corp lifted its position in 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 purchasing an additional 68,800 shares during the last quarter. Institutional investors own 37.97% of the company’s stock.

Analysts Set New Price Targets

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

Red Cat Stock Up 6.2 %

Shares of RCAT opened at $6.16 on Friday. Red Cat Holdings, Inc. has a 1 year low of $0.80 and a 1 year high of $15.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60. The stock has a 50 day simple moving average of $6.87 and a two-hundred day simple moving average of $7.05. The firm has a market cap of $527.59 million, a P/E ratio of -11.41 and a beta of 1.34.

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.