Red Cat (NASDAQ:RCAT) Trading 5.5% Higher – What’s Next?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) shot up 5.5% on Monday . The company traded as high as $14.68 and last traded at $13.93. 6,306,155 shares changed hands during trading, a decline of 26% from the average session volume of 8,539,343 shares. The stock had previously closed at $13.20.

Red Cat Stock Up 12.0 %

The business has a 50-day moving average price of $7.80 and a two-hundred day moving average price of $4.33. The company has a market cap of $1.18 billion, a P/E ratio of -32.13 and a beta of 1.32.

Red Cat (NASDAQ:RCAT) last released its earnings results on Monday, December 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.27). Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. During the same quarter last year, the company earned ($0.11) EPS. As a group, sell-side analysts expect that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Red Cat

In other news, Director Joseph David Freedman sold 50,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the transaction, the director now owns 635,190 shares of the company’s stock, valued at $6,351,900. The trade was a 7.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $8.29, for a total value of $2,726,813.12. Following the sale, the director now directly owns 681,072 shares in the company, valued at $5,646,086.88. The trade was a 32.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,930,441 shares of company stock worth $21,099,751. Insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in shares of Red Cat in the 2nd quarter valued at approximately $267,000. XTX Topco Ltd lifted its position in Red Cat by 390.9% in the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after acquiring an additional 46,897 shares in the last quarter. PVG Asset Management Corp acquired a new position in Red Cat in the 2nd quarter worth $63,000. Sheets Smith Wealth Management bought a new position in Red Cat during the 3rd quarter worth about $51,000. Finally, United Capital Management of KS Inc. bought a new stake in shares of Red Cat in the third quarter valued at about $108,000. 37.97% of the stock is owned by institutional investors and hedge funds.

Red Cat Company Profile

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.