Red Cat (NASDAQ:RCAT) Trading 6.8% Higher – Time to Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s stock price rose 6.8% during trading on Monday . The company traded as high as $13.10 and last traded at $13.09. Approximately 5,889,564 shares were traded during mid-day trading, an increase of 160% from the average daily volume of 2,268,817 shares. The stock had previously closed at $12.26.

Red Cat Stock Up 20.1 %

The firm has a 50 day moving average of $6.79 and a 200 day moving average of $3.90. The firm has a market cap of $1.18 billion, a PE ratio of -32.02 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results on Monday, December 16th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates 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 in the previous year, the firm posted ($0.11) EPS. On average, research analysts anticipate that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Insider Buying and Selling

In other news, insider George Michael Matus sold 112,686 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $9.20, for a total transaction of $1,036,711.20. Following the completion of the transaction, the insider now directly owns 973,103 shares in the company, valued at $8,952,547.60. The trade was a 10.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $8.29, for a total value of $2,726,813.12. Following the completion of the transaction, the director now owns 681,072 shares in the company, valued at $5,646,086.88. This represents a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,915,441 shares of company stock valued at $20,886,151. Company insiders own 21.50% of the company’s stock.

Institutional Trading of Red Cat

A number of hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new position in shares of Red Cat in the third quarter worth approximately $25,000. Sheets Smith Wealth Management purchased a new position in shares of Red Cat in the third quarter valued at about $51,000. United Capital Management of KS Inc. bought a new position in shares of Red Cat during the third quarter valued at about $108,000. XTX Topco Ltd boosted its holdings in shares of 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 purchasing an additional 46,897 shares during the period. Finally, Pekin Hardy Strauss Inc. bought a new stake in shares of Red Cat in the third quarter worth about $138,000. 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.