Red Cat (NASDAQ:RCAT) Sees Unusually-High Trading Volume – What’s Next?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) saw strong trading volume on Tuesday . 4,769,559 shares were traded during trading, an increase of 164% from the previous session’s volume of 1,804,845 shares.The stock last traded at $8.47 and had previously closed at $10.45.

Red Cat Stock Down 15.7 %

The firm has a market cap of $615.04 million, a PE ratio of -17.72 and a beta of 1.33. The company has a 50-day simple moving average of $5.64 and a two-hundred day simple moving average of $3.37.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results on Monday, December 16th. The company reported ($0.18) earnings per share 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 in the previous year, the company earned ($0.11) earnings per share. As a group, equities analysts predict that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in Red Cat in the second quarter valued at approximately $267,000. Corsair Capital Management L.P. bought a new position in shares of Red Cat during the 3rd quarter worth $308,000. Wolverine Trading LLC purchased a new stake in Red Cat in the 3rd quarter worth about $233,000. Centiva Capital LP bought a new stake in Red Cat in the 3rd quarter valued at about $207,000. Finally, State Street Corp lifted its holdings in Red Cat by 44.9% during the third quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after purchasing an additional 68,800 shares during the last quarter. 37.97% of the stock is owned by institutional investors.

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.