121,324 Shares in Red Cat Holdings, Inc. (NASDAQ:RCAT) Acquired by Corsair Capital Management L.P.

Corsair Capital Management L.P. acquired a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) in the third quarter, HoldingsChannel.com reports. The firm acquired 121,324 shares of the company’s stock, valued at approximately $308,000.

Other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in shares of Red Cat during the second quarter worth about $267,000. XTX Topco Ltd lifted its holdings in shares of Red Cat by 390.9% in the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after buying an additional 46,897 shares during the period. PVG Asset Management Corp bought a new position in Red Cat during the second quarter valued at about $63,000. Sheets Smith Wealth Management acquired a new position in Red Cat during the third quarter worth about $51,000. Finally, United Capital Management of KS Inc. bought a new stake in Red Cat in the third quarter worth about $108,000. 37.97% of the stock is owned by institutional investors and hedge funds.

Red Cat Trading Up 4.1 %

NASDAQ:RCAT opened at $8.70 on Wednesday. The company has a 50-day moving average of $3.64 and a 200-day moving average of $2.45. Red Cat Holdings, Inc. has a twelve month low of $0.52 and a twelve month high of $10.25. The firm has a market cap of $656.50 million, a price-to-earnings ratio of -18.17 and a beta of -0.07.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings data on Monday, September 23rd. The company reported ($0.17) EPS for the quarter. Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. The company had revenue of $2.78 million for the quarter. On average, research analysts forecast that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current 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.