Red Cat (NASDAQ:RCAT) Reaches New 12-Month High – Still a Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $13.89 and last traded at $11.92, with a volume of 9469258 shares changing hands. The stock had previously closed at $10.75.

Red Cat Stock Up 3.4 %

The business has a fifty day moving average of $5.91 and a 200 day moving average of $3.49. The firm has a market cap of $891.39 million, a P/E ratio of -24.17 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last issued its earnings results on Monday, December 16th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate 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 period in the prior year, the company earned ($0.11) EPS. Research analysts expect that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Insider Activity

In other Red Cat news, insider George Michael Matus sold 112,686 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $9.20, for a total value of $1,036,711.20. Following the transaction, the insider now directly owns 973,103 shares of the company’s stock, valued at $8,952,547.60. This represents a 10.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph David Freedman sold 50,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the transaction, the director now owns 635,190 shares in the company, valued at $6,351,900. The trade was a 7.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,614 shares of company stock valued at $4,263,524 over the last ninety days. 21.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Red Cat

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC bought a new stake in Red Cat in the 2nd quarter valued at about $267,000. State Street Corp increased its holdings in shares of Red Cat by 44.9% during the third 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 period. Corsair Capital Management L.P. acquired a new stake in shares of Red Cat in the third quarter valued at approximately $308,000. Wolverine Trading LLC bought a new stake in shares of Red Cat in the third quarter valued at approximately $233,000. Finally, Centiva Capital LP acquired a new stake in Red Cat during the third quarter worth approximately $207,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

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.