Corsair Capital Management L.P. Makes New $308,000 Investment in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Corsair Capital Management L.P. acquired a new stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 121,324 shares of the company’s stock, valued at approximately $308,000. Corsair Capital Management L.P. owned 0.16% of Red Cat as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RCAT. Pekin Hardy Strauss Inc. purchased a new stake in Red Cat in the 3rd quarter valued at about $138,000. United Capital Management of KS Inc. purchased a new stake in Red Cat in the third quarter valued at approximately $108,000. Sheets Smith Wealth Management acquired a new stake in shares of Red Cat during the 3rd quarter worth $51,000. PVG Asset Management Corp acquired a new position in Red Cat during the 2nd quarter worth approximately $63,000. Finally, XTX Topco Ltd increased its stake in Red Cat by 390.9% during the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after buying an additional 46,897 shares during the period. 37.97% of the stock is currently owned by institutional investors and hedge funds.

Red Cat Price Performance

Shares of RCAT stock opened at $8.70 on Wednesday. The company’s fifty day moving average price is $3.64 and its two-hundred day moving average price is $2.45. The firm has a market capitalization of $656.50 million, a P/E ratio of -18.17 and a beta of -0.07. Red Cat Holdings, Inc. has a 12 month low of $0.52 and a 12 month high of $10.25.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Monday, September 23rd. The company reported ($0.17) EPS for the quarter. Red Cat had a negative return on equity of 66.19% and a negative net margin of 162.50%. The business had revenue of $2.78 million during the quarter. On average, sell-side analysts anticipate that Red Cat Holdings, Inc. will post -0.39 EPS 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.