Renaissance Technologies disclosed a new stake in Red Cat Holdings. The quantitative hedge fund purchased 1,415,826 shares.
This acquisition is valued at approximately $18.53 million. Renaissance Technologies now holds a 1.15% ownership interest in the drone and robotics company.
Total institutional and hedge fund ownership in Red Cat reached 37.97%. The investment follows a $2.49 million U.S. Air Force contract for Black Widow drone systems. No specific market reaction to the disclosure has been reported.