Virtu Financial LLC Buys Shares of 16,921 Red Cat Holdings, Inc. (NASDAQ:RCAT)

Virtu Financial LLC purchased a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,921 shares of the company’s stock, valued at approximately $217,000.

Several other institutional investors have also recently made changes to their positions in the company. Twin Tree Management LP bought a new position in Red Cat during the 4th quarter worth about $28,000. United Capital Management of KS Inc. lifted its position in shares of Red Cat by 7.4% in 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 boosted its stake in shares of Red Cat by 34.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company’s stock valued at $172,000 after purchasing an additional 3,400 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Red Cat during the fourth quarter valued at approximately $60,000. Finally, Jones Financial Companies Lllp increased its holdings in Red Cat by 1,536.6% during the fourth quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company’s stock valued at $114,000 after buying an additional 8,344 shares during the period. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Insider Activity

In other Red Cat news, Director Joseph David Freedman sold 15,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $14.24, for a total value of $213,600.00. Following the completion of the sale, the director now directly owns 585,190 shares in the company, valued at approximately $8,333,105.60. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 21.50% of the company’s stock.

Red Cat Trading Down 1.8 %

NASDAQ:RCAT opened at $5.89 on Friday. The firm has a 50 day moving average of $7.40 and a 200 day moving average of $6.74. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. Red Cat Holdings, Inc. has a 52 week low of $0.75 and a 52 week high of $15.27. The stock has a market capitalization of $504.28 million, a price-to-earnings ratio of -10.91 and a beta of 1.32.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RCAT. Northland Securities initiated coverage on Red Cat in a research report on Tuesday, March 11th. They set an “outperform” rating and a $13.00 target price on the stock. Northland Capmk raised Red Cat to a “strong-buy” rating in a research report on Monday, March 10th.

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.