PVG Asset Management Corp Makes New Investment in Red Cat Holdings, Inc. (NASDAQ:RCAT)

PVG Asset Management Corp bought a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 55,037 shares of the company’s stock, valued at approximately $63,000. PVG Asset Management Corp owned about 0.07% of Red Cat at the end of the most recent quarter.

Separately, Renaissance Technologies LLC bought a new position in Red Cat during the 2nd quarter valued at $267,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Red Cat Stock Down 0.8 %

Shares of NASDAQ RCAT opened at $2.54 on Tuesday. The stock’s 50 day moving average price is $2.65 and its two-hundred day moving average price is $1.65. Red Cat Holdings, Inc. has a 52-week low of $0.52 and a 52-week high of $3.48. The stock has a market capitalization of $188.68 million and a P/E ratio of -4.88.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) 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 $6.31 million for the quarter. On average, analysts anticipate that Red Cat Holdings, Inc. will post -0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH began coverage on shares of Red Cat in a research note on Friday, June 14th. They issued a “buy” rating and a $4.00 target price on the stock.

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.