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

Red Cat Holdings, Inc. (NASDAQ:RCAT) shares reached a new 52-week high on Friday . The stock traded as high as $11.11 and last traded at $10.95, with a volume of 2902565 shares trading hands. The stock had previously closed at $9.27.

Red Cat Trading Up 18.8 %

The stock has a market capitalization of $830.81 million, a P/E ratio of -23.80 and a beta of -0.07. The business’s fifty day simple moving average is $3.88 and its two-hundred day simple moving average is $2.55.

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

Institutional Inflows and Outflows

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