Red Cat Holdings, Inc. (NASDAQ:RCAT) Sees Large Growth in Short Interest

Red Cat Holdings, Inc. (NASDAQ:RCAT) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 6,880,000 shares, an increase of 31.5% from the November 15th total of 5,230,000 shares. Approximately 12.1% of the shares of the company are sold short. Based on an average daily trading volume, of 3,770,000 shares, the short-interest ratio is presently 1.8 days.

Institutional Trading of Red Cat

Hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new position in shares of Red Cat during the 3rd quarter valued at about $25,000. Sheets Smith Wealth Management purchased a new stake in Red Cat in the 3rd quarter worth approximately $51,000. PVG Asset Management Corp bought a new stake in Red Cat during the 2nd quarter worth approximately $63,000. XTX Topco Ltd lifted its holdings in Red Cat by 390.9% during the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after purchasing an additional 46,897 shares in the last quarter. Finally, United Capital Management of KS Inc. bought a new position in shares of Red Cat in the third quarter worth approximately $108,000. Institutional investors own 37.97% of the company’s stock.

Red Cat Stock Performance

Shares of NASDAQ RCAT traded up $1.04 during midday trading on Friday, hitting $8.23. 7,337,522 shares of the stock traded hands, compared to its average volume of 8,877,030. Red Cat has a one year low of $0.55 and a one year high of $12.57. The firm has a 50-day moving average of $5.27 and a two-hundred day moving average of $3.21. The firm has a market capitalization of $621.04 million, a P/E ratio of -17.89 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Monday, September 23rd. The company reported ($0.17) EPS for the quarter. Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. The business had revenue of $2.78 million for the quarter. Equities analysts forecast that Red Cat will post -0.39 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.