Red Cat (NASDAQ:RCAT) Trading Up 12.5% – Time to Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s share price shot up 12.5% during trading on Monday . The company traded as high as $10.15 and last traded at $10.09. 11,227,484 shares were traded during mid-day trading, an increase of 801% from the average session volume of 1,246,479 shares. The stock had previously closed at $8.97.

Red Cat Trading Up 7.1 %

The company has a 50-day moving average price of $3.51 and a two-hundred day moving average price of $2.40. The stock has a market cap of $725.17 million, a P/E ratio of -21.70 and a beta of -0.07.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in shares of Red Cat during the 3rd quarter worth approximately $25,000. Sheets Smith Wealth Management bought a new stake in shares of Red Cat during the third quarter worth $51,000. United Capital Management of KS Inc. purchased a new stake in shares of Red Cat during the third quarter valued at $108,000. XTX Topco Ltd grew 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 worth $68,000 after purchasing an additional 46,897 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. purchased a new position in Red Cat in the 3rd quarter worth about $138,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

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.