Red Cat (NASDAQ:RCAT) Stock Price Up 15.3% – Still a Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT) traded up 15.3% during mid-day trading on Friday . The stock traded as high as $13.88 and last traded at $13.76. 6,111,309 shares traded hands during trading, a decline of 10% from the average session volume of 6,801,337 shares. The stock had previously closed at $11.93.

Red Cat Stock Performance

The firm has a market capitalization of $1.03 billion, a P/E ratio of -28.07 and a beta of 1.33. The business has a fifty day moving average of $7.59 and a 200-day moving average of $4.20.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Monday, December 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the firm posted ($0.11) earnings per share. On average, equities research analysts forecast that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Red Cat

In other news, insider George Michael Matus sold 309,491 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $14.27, for a total value of $4,416,436.57. Following the sale, the insider now owns 304,406 shares of the company’s stock, valued at approximately $4,343,873.62. The trade was a 50.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $8.29, for a total value of $2,726,813.12. Following the transaction, the director now directly owns 681,072 shares of the company’s stock, valued at $5,646,086.88. This represents a 32.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,930,441 shares of company stock valued at $21,099,751. Company insiders own 21.50% of the company’s stock.

Institutional Trading of Red Cat

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new position in Red Cat in the 3rd quarter worth about $25,000. Sheets Smith Wealth Management acquired a new stake in shares of Red Cat during the third quarter valued at approximately $51,000. PVG Asset Management Corp acquired a new stake in shares of Red Cat during the second quarter valued at approximately $63,000. XTX Topco Ltd lifted its position in shares of Red Cat by 390.9% in the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after acquiring an additional 46,897 shares in the last quarter. Finally, United Capital Management of KS Inc. acquired a new position in Red Cat in the 3rd quarter worth approximately $108,000. 37.97% of the stock is currently owned by institutional investors.

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.