Janus Henderson Group PLC Has $5.14 Million Stock Position in Red Cat Holdings, Inc. $RCAT

Janus Henderson Group PLC increased its holdings in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 733.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 392,808 shares of the company’s stock after purchasing an additional 345,693 shares during the period. Janus Henderson Group PLC’s holdings in Red Cat were worth $5,141,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp grew its position in Red Cat by 136.4% in the fourth quarter. State Street Corp now owns 6,612,153 shares of the company’s stock valued at $52,434,000 after acquiring an additional 3,815,310 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Red Cat by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 6,000,037 shares of the company’s stock valued at $47,580,000 after purchasing an additional 493,660 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Red Cat by 13.4% in the 4th quarter. Geode Capital Management LLC now owns 2,520,524 shares of the company’s stock valued at $19,991,000 after purchasing an additional 297,967 shares in the last quarter. Davidson Kempner Capital Management LP bought a new stake in shares of Red Cat during the 3rd quarter valued at approximately $17,286,000. Finally, Renaissance Technologies LLC acquired a new position in Red Cat during the 1st quarter worth approximately $18,533,000. 37.97% of the stock is owned by institutional investors and hedge funds.

Red Cat Stock Up 0.1%

Shares of NASDAQ:RCAT opened at $8.67 on Friday. The firm has a market cap of $1.06 billion, a P/E ratio of -12.39 and a beta of 1.31. Red Cat Holdings, Inc. has a 12-month low of $5.77 and a 12-month high of $18.78. The business has a fifty day simple moving average of $9.99 and a 200 day simple moving average of $11.85.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). The company had revenue of $20.20 million during the quarter, compared to the consensus estimate of $22.65 million. Red Cat had a negative net margin of 138.36% and a negative return on equity of 35.86%. As a group, equities research analysts expect that Red Cat Holdings, Inc. will post -0.68 EPS for the current year.

Insider Activity at Red Cat

In related news, Director Paul Funk II sold 165,028 shares of Red Cat stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $11.50, for a total value of $1,897,822.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 12.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on RCAT. Roth Capital assumed coverage on shares of Red Cat in a research note on Monday, June 1st. They issued a “buy” rating and a $25.00 price objective for the company. Wall Street Zen downgraded shares of Red Cat from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. HC Wainwright began coverage on Red Cat in a research note on Wednesday, May 27th. They issued a “buy” rating and a $20.00 price target for the company. Clear Str raised Red Cat to a “strong-buy” rating in a report on Wednesday, April 29th. Finally, LADENBURG THALM/SH SH upgraded Red Cat to a “strong-buy” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $21.40.

About Red Cat

Red Cat Holdings, Inc (NASDAQ: RCAT) is a technology holding company that develops and delivers advanced robotics, autonomy, and sensing solutions for defense, national security, public safety and commercial customers. Headquartered in American Fork, Utah, the company brings together a portfolio of specialized operating businesses focused on unmanned aerial systems (UAS), mission management software, precision mapping sensors and engineering services.

Through its UAS segment, Red Cat designs and manufactures small to medium-sized fixed-wing and vertical-takeoff drones that support intelligence, surveillance and reconnaissance (ISR) missions.