Red Cat Holdings, Inc. (NASDAQ:RCAT) Short Interest Down 19.2% in October

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 4,660,000 shares, a decrease of 19.2% from the September 30th total of 5,770,000 shares. Currently, 8.0% of the shares of the stock are short sold. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is presently 3.1 days.

Red Cat Stock Down 1.1 %

Red Cat stock traded down $0.03 during trading hours on Friday, hitting $2.69. The stock had a trading volume of 739,307 shares, compared to its average volume of 883,895. The stock has a market cap of $199.82 million, a price-to-earnings ratio of -5.17 and a beta of -0.03. The business's 50 day simple moving average is $2.98 and its 200-day simple moving average is $1.97. Red Cat has a one year low of $0.52 and a one year high of $3.94.

Red Cat (NASDAQ:RCAT - Get Free Report) last posted its earnings results on Monday, September 23rd. The company reported ($0.17) EPS for the quarter. Red Cat had a negative return on equity of 66.19% and a negative net margin of 162.50%. The business had revenue of $2.78 million for the quarter. Research analysts anticipate that Red Cat will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Cat

A number of hedge funds have recently modified their holdings of RCAT. Renaissance Technologies LLC bought a new stake in Red Cat in the second quarter valued at approximately $267,000. PVG Asset Management Corp acquired a new position in shares of Red Cat in the 2nd quarter worth approximately $63,000. Finally, XTX Topco Ltd boosted its stake 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 purchasing an additional 46,897 shares during the last quarter. 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.