Red Cat (NASDAQ:RCAT) Sees Unusually-High Trading Volume – Here’s Why

Posted by ABMN Staff on Nov 24th, 2024

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report) saw an uptick in trading volume on Friday . 3,430,559 shares changed hands during mid-day trading, an increase of 200% from the previous session’s volume of 1,143,657 shares.The stock last traded at $8.38 and had previously closed at $7.30.

Red Cat Price Performance

The firm has a 50 day simple moving average of $3.51 and a two-hundred day simple moving average of $2.39. The stock has a market cap of $676.88 million, a price-to-earnings ratio of -19.50 and a beta of -0.07.

Red Cat (NASDAQ:RCAT – Get Free Report) last issued its quarterly earnings data on Monday, September 23rd. The company reported ($0.17) EPS for the quarter. The business had revenue of $2.78 million for the quarter. Red Cat had a negative return on equity of 66.19% and a negative net margin of 162.50%. On average, sell-side analysts expect that Red Cat Holdings, Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Cat

Several large investors have recently made changes to their positions in RCAT. Sheets Smith Wealth Management bought a new stake in shares of Red Cat in the third quarter valued at about $51,000. PVG Asset Management Corp bought a new position in shares of Red Cat in the second quarter valued at $63,000. XTX Topco Ltd increased its holdings in Red Cat by 390.9% during the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after buying an additional 46,897 shares during the last quarter. United Capital Management of KS Inc. acquired a new stake in Red Cat in the third quarter valued at $108,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in Red Cat in the 3rd quarter valued at about $138,000. Institutional investors own 37.97% of the company’s stock.

Red Cat Company Profile

(Get Free Report)

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.