Stock Traders Purchase High Volume of Red Cat Call Options (NASDAQ:RCAT)

Red Cat Holdings, Inc. (NASDAQ:RCAT) saw unusually large options trading on Monday. Stock investors acquired 23,381 call options on the stock. This is an increase of 76% compared to the average volume of 13,288 call options.

Institutional Trading of Red Cat

Several large investors have recently bought and sold shares of RCAT. Waddell & Associates LLC purchased a new stake in Red Cat during the 4th quarter valued at about $159,643,000. Vanguard Group Inc. increased its holdings in Red Cat by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company’s stock valued at $32,197,000 after buying an additional 207,727 shares in the last quarter. Apis Capital Advisors LLC increased its stake in shares of Red Cat by 4.9% in the 1st quarter. Apis Capital Advisors LLC now owns 682,000 shares of the company’s stock valued at $4,010,000 after purchasing an additional 32,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Red Cat by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 602,596 shares of the company’s stock worth $7,747,000 after buying an additional 10,594 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new position in Red Cat during the fourth quarter worth $6,628,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RCAT shares. Northland Securities began coverage on Red Cat in a research report on Tuesday, March 11th. They set an “outperform” rating and a $13.00 target price on the stock. Northland Capmk upgraded Red Cat to a “strong-buy” rating in a report on Monday, March 10th.

Red Cat Price Performance

Shares of RCAT stock opened at $6.93 on Wednesday. The company has a market cap of $630.04 million, a P/E ratio of -12.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60. The stock’s 50-day moving average is $6.04 and its 200 day moving average is $7.72. Red Cat has a 1-year low of $0.80 and a 1-year high of $15.27.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.17). Red Cat had a negative return on equity of 96.00% and a negative net margin of 232.62%. Research analysts predict that Red Cat will post -0.5 earnings per share for the current fiscal year.

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.