Red Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 4,660,000 shares, a decline of 19.2% from the September 30th total of 5,770,000 shares. Currently, 8.0% of the shares of the company are short sold. Based on an average trading volume of 1,480,000 shares, the days-to-cover ratio is currently 3.1 days.
Hedge Funds Weigh In On Red Cat
Several institutional investors have recently made changes to their positions in RCAT. PVG Asset Management Corp bought a new position in Red Cat in the second quarter worth approximately $63,000. XTX Topco Ltd grew its position in shares of Red Cat by 390.9% during the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after acquiring an additional 46,897 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Red Cat in the 2nd quarter worth $267,000. Institutional investors own 37.97% of the company’s stock.
Red Cat Trading Down 1.1 %
NASDAQ:RCAT traded down $0.03 during trading hours on Friday, reaching $2.69. The company had a trading volume of 739,307 shares, compared to its average volume of 883,895. The firm has a market cap of $199.82 million, a price-to-earnings ratio of -5.17 and a beta of -0.03. The firm’s 50 day moving average price is $2.98 and its 200-day moving average price is $1.96. Red Cat has a 52 week low of $0.52 and a 52 week high of $3.94.
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.
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