Red Cat (NASDAQ:RCAT) Stock Price Up 3.1% – Should You Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s share price traded up 3.1% during mid-day trading on Friday . The company traded as high as $9.38 and last traded at $9.37. 803,396 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 1,931,903 shares. The stock had previously closed at $9.09.

Red Cat Stock Up 22.1 %

The stock has a market cap of $837.66 million, a price-to-earnings ratio of -24.13 and a beta of 1.33. The company has a 50 day simple moving average of $5.76 and a 200 day simple moving average of $3.41.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data 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 quarter in the prior year, the company posted ($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 fiscal year.

Institutional Investors Weigh In On Red Cat

Hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new position in Red Cat in the third quarter valued at about $25,000. Sheets Smith Wealth Management bought a new position in Red Cat in the 3rd quarter valued at approximately $51,000. PVG Asset Management Corp acquired a new stake in Red Cat during the 2nd quarter worth approximately $63,000. XTX Topco Ltd grew its holdings in Red Cat by 390.9% during the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after acquiring an additional 46,897 shares during the last quarter. Finally, United Capital Management of KS Inc. acquired a new position in Red Cat in the 3rd quarter valued at approximately $108,000. Institutional investors and hedge funds 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.