Red Cat (NASDAQ:RCAT) Stock Price Up 12.5% – Still a Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT) was up 12.5% during trading on Monday . The stock traded as high as $10.15 and last traded at $10.09. Approximately 11,227,484 shares were traded during mid-day trading, an increase of 801% from the average daily volume of 1,246,479 shares. The stock had previously closed at $8.97.

Red Cat Stock Performance

The company’s 50-day moving average price is $3.75 and its 200 day moving average price is $2.51. The stock has a market capitalization of $699.51 million, a PE ratio of -19.89 and a beta of -0.07.

Red Cat (NASDAQ:RCAT) last announced its earnings results on Monday, September 23rd. The company reported ($0.17) earnings per share (EPS) for the quarter. Red Cat had a negative return on equity of 66.19% and a negative net margin of 162.50%. The firm had revenue of $2.78 million during the quarter. Analysts expect that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Institutional Investors Weigh In On Red Cat

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of Red Cat in the 3rd quarter worth approximately $25,000. Sheets Smith Wealth Management bought a new position in shares of Red Cat during the third quarter valued at $51,000. United Capital Management of KS Inc. purchased a new position in shares of Red Cat in the 3rd quarter worth about $108,000. Pekin Hardy Strauss Inc. purchased a new stake in Red Cat during the 3rd quarter valued at about $138,000. Finally, PVG Asset Management Corp bought a new stake in Red Cat during the 2nd quarter valued at about $63,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

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.