Red Cat (NASDAQ:RCAT) Shares Up 9.7% – What’s Next?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) traded up 9.7% during trading on Friday . The stock traded as high as $9.69 and last traded at $9.56. 3,304,310 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 10,061,477 shares. The stock had previously closed at $8.71.

Red Cat Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43. The stock has a market capitalization of $714.72 million, a P/E ratio of -16.57 and a beta of 1.32. The firm’s fifty day simple moving average is $10.02 and its 200 day simple moving average is $5.42.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings results on Monday, December 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.27). Red Cat had a negative net margin of 232.62% and a negative return on equity of 96.00%. During the same quarter in the prior year, the business earned ($0.11) EPS. As a group, equities research analysts forecast that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Insider Activity at Red Cat

In other news, insider George Michael Matus sold 112,686 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $9.20, for a total value of $1,036,711.20. Following the transaction, the insider now owns 973,103 shares in the company, valued at approximately $8,952,547.60. The trade was a 10.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $10.44, for a total transaction of $1,188,312.12. Following the completion of the transaction, the executive now owns 558,325 shares in the company, valued at $5,828,913. This trade represents a 16.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,930,441 shares of company stock valued at $21,099,751. 21.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RCAT. Atria Wealth Solutions Inc. acquired a new position in shares of Red Cat during the 4th quarter valued at $134,000. AlphaCentric Advisors LLC acquired a new position in shares of Red Cat during the 4th quarter valued at $353,000. Gladstone Institutional Advisory LLC lifted its position in shares of Red Cat by 34.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company’s stock valued at $172,000 after acquiring an additional 3,400 shares during the period. Silver Oak Securities Incorporated lifted its position in shares of Red Cat by 502.3% during the 4th quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company’s stock valued at $856,000 after acquiring an additional 50,668 shares during the period. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in shares of Red Cat during the 4th quarter valued at $139,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

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.