Red Cat Holdings, Inc. (NASDAQ:RCAT) Short Interest Down 19.2% in October

Red Cat Holdings, Inc. (NASDAQ:RCAT) 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 (NASDAQ:RCAT) last posted its earnings results on Monday, September 23rd. The company reported ($0.17) earnings per share for the quarter. The firm had revenue of $2.78 million during the quarter. Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. On average, analysts forecast that Red Cat will post -0.33 earnings per share for the current fiscal year.

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.