Brevan Howard Capital Management LP Makes New Investment in Red Cat Holdings, Inc. $RCAT

Brevan Howard Capital Management LP bought a new position in Red Cat Holdings, Inc. (NASDAQ:RCAT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,907,122 shares of the company’s stock, valued at approximately $19,739,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. boosted its position in shares of Red Cat by 160.8% during the third quarter. Raymond James Financial Inc. now owns 352,083 shares of the company’s stock valued at $3,644,000 after purchasing an additional 217,098 shares in the last quarter. California State Teachers Retirement System grew its stake in Red Cat by 1,559.9% in the third quarter. California State Teachers Retirement System now owns 77,549 shares of the company’s stock worth $803,000 after purchasing an additional 72,877 shares during the period. Davidson Kempner Capital Management LP bought a new position in Red Cat in the third quarter worth $17,286,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Red Cat in the third quarter worth $187,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Red Cat during the third quarter valued at $1,216,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Red Cat Stock Performance

Shares of NASDAQ RCAT opened at $15.86 on Friday. The firm’s 50 day moving average price is $13.45 and its 200-day moving average price is $10.94. The company has a market cap of $1.89 billion, a PE ratio of -36.05 and a beta of 1.53. Red Cat Holdings, Inc. has a 52-week low of $4.60 and a 52-week high of $18.78.

Analysts Set New Price Targets

RCAT has been the subject of a number of analyst reports. Northland Securities set a $22.00 target price on shares of Red Cat in a research note on Tuesday, January 20th. LADENBURG THALM/SH SH raised their price objective on Red Cat from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a research note on Thursday, January 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Red Cat in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Red Cat presently has a consensus rating of “Hold” and a consensus price target of $19.33.

Red Cat Profile

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.