Red Cat (NASDAQ:RCAT) Stock Price Up 10.7% – Time to Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT) shares were up 10.7% during trading on Tuesday . The company traded as high as $9.58 and last traded at $9.77. Approximately 3,069,887 shares were traded during trading, a decline of 69% from the average daily volume of 9,906,896 shares. The stock had previously closed at $8.82.

Red Cat Stock Performance

The company has a market capitalization of $798.63 million, a PE ratio of -18.42 and a beta of 1.24. The stock’s fifty day simple moving average is $10.00 and its 200-day simple moving average is $5.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Monday, December 16th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.27). Red Cat had a negative return on equity of 96.00% and a negative net margin of 232.62%. During the same period last year, the firm posted ($0.11) EPS. As a group, equities analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Insider Buying and Selling

In other Red Cat news, insider George Michael Matus sold 309,491 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $14.27, for a total value of $4,416,436.57. Following the completion of the sale, the insider now directly owns 304,406 shares of the company’s stock, valued at $4,343,873.62. The trade was a 50.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey M. Thompson sold 392,551 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $11.34, for a total value of $4,451,528.34. Following the sale, the chief executive officer now directly owns 13,121,898 shares of the company’s stock, valued at $148,802,323.32. The trade was a 2.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,930,441 shares of company stock worth $21,099,751 in the last three months. 21.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Red Cat

Large investors have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. bought a new stake in shares of Red Cat in the 4th quarter valued at approximately $134,000. AlphaCentric Advisors LLC acquired a new stake in Red Cat in the fourth quarter worth about $353,000. Gladstone Institutional Advisory LLC boosted its stake in Red Cat by 34.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company’s stock valued at $172,000 after acquiring an additional 3,400 shares during the last quarter. Silver Oak Securities Incorporated increased its stake in shares of Red Cat by 502.3% in the 4th quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company’s stock valued at $856,000 after acquiring an additional 50,668 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC bought a new position in shares of Red Cat during the fourth quarter worth $139,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

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.