Red Cat (NASDAQ:RCAT) Shares Down 5.7% – What’s Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s stock price fell 5.7% during mid-day trading on Wednesday . The company traded as low as $8.92 and last traded at $9.12. 3,505,174 shares changed hands during mid-day trading, an increase of 88% from the average session volume of 1,860,465 shares. The stock had previously closed at $9.67.

Red Cat Stock Up 11.5 %

The company’s fifty day moving average price is $5.76 and its two-hundred day moving average price is $3.41. The firm has a market cap of $685.98 million, a PE ratio of -19.76 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings results on Monday, December 16th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate 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 period last year, the firm earned ($0.11) earnings per share. As a group, analysts predict that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Institutional Investors Weigh In On Red Cat

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new stake in shares of Red Cat in the second quarter valued at $267,000. State Street Corp lifted its holdings in shares of Red Cat by 44.9% during the 3rd quarter. State Street Corp now owns 221,958 shares of the company’s stock worth $564,000 after acquiring an additional 68,800 shares during the period. Corsair Capital Management L.P. acquired a new stake in shares of Red Cat in the third quarter worth approximately $308,000. Wolverine Trading LLC purchased a new position in Red Cat during the third quarter worth approximately $233,000. Finally, Centiva Capital LP acquired a new position in shares of Red Cat in the 3rd quarter valued at $207,000. 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.