Red Cat (NASDAQ:RCAT) Shares Up 5.5% – Time to Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT) shares were up 5.5% on Monday . The stock traded as high as $14.68 and last traded at $13.93. Approximately 6,306,155 shares traded hands during trading, a decline of 26% from the average daily volume of 8,539,343 shares. The stock had previously closed at $13.20.

Red Cat Stock Up 12.0 %

The stock’s fifty day moving average price is $7.80 and its 200-day moving average price is $4.33. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -32.13 and a beta of 1.32.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings data 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 return on equity of 66.19% and a negative net margin of 162.50%. During the same quarter last year, the company earned ($0.11) EPS. Analysts anticipate that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director Nicholas Reyland Liuzza, Jr. sold 20,000 shares of Red Cat stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $13.92, for a total transaction of $278,400.00. Following the completion of the transaction, the director now directly owns 461,072 shares in the company, valued at approximately $6,418,122.24. The trade was a 4.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph David Freedman sold 15,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $14.24, for a total value of $213,600.00. Following the completion of the sale, the director now owns 585,190 shares in the company, valued at approximately $8,333,105.60. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,930,441 shares of company stock valued at $21,099,751 in the last 90 days. 21.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Red Cat

Several institutional investors and hedge funds have recently modified their holdings of RCAT. Centiva Capital LP bought a new stake in shares of Red Cat during the 3rd quarter worth about $207,000. Wolverine Trading LLC bought a new stake in shares of Red Cat during the third quarter worth approximately $233,000. Corsair Capital Management L.P. acquired a new position in shares of Red Cat in the third quarter valued at approximately $308,000. Pekin Hardy Strauss Inc. bought a new position in shares of Red Cat during the third quarter worth approximately $138,000. Finally, State Street Corp lifted its holdings in Red Cat by 44.9% during the 3rd quarter. State Street Corp now owns 221,958 shares of the company’s stock worth $564,000 after purchasing an additional 68,800 shares during the last quarter. 37.97% of the stock is currently owned by institutional investors and hedge funds.

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.