Red Cat Holdings, Inc. (NASDAQ:RCAT) Short Interest Up 31.5% in November

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 6,880,000 shares, a growth of 31.5% from the November 15th total of 5,230,000 shares. Based on an average trading volume of 3,770,000 shares, the short-interest ratio is currently 1.8 days. Approximately 12.1% of the company's stock are short sold.

Red Cat Stock Up 14.5 %

Shares of RCAT stock traded up $1.04 during trading hours on Friday, hitting $8.23. 7,337,522 shares of the company's stock traded hands, compared to its average volume of 8,877,030. The stock has a market cap of $621.04 million, a price-to-earnings ratio of -17.89 and a beta of 1.33. The stock's fifty day simple moving average is $5.27 and its two-hundred day simple moving average is $3.21. Red Cat has a 12-month low of $0.55 and a 12-month high of $12.57.

Red Cat (NASDAQ:RCAT - Get Free Report) last announced its quarterly earnings data on Monday, September 23rd. The company reported ($0.17) earnings per share (EPS) for the quarter. Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. The company had revenue of $2.78 million for the quarter. On average, equities analysts forecast that Red Cat will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of Red Cat

Several institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in Red Cat in the third quarter worth about $25,000. Sheets Smith Wealth Management bought a new stake in shares of Red Cat during the third quarter valued at approximately $51,000. United Capital Management of KS Inc. purchased a new position in Red Cat in the 3rd quarter worth approximately $108,000. XTX Topco Ltd lifted its position in 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, Pekin Hardy Strauss Inc. purchased a new stake in Red Cat during the 3rd quarter valued at $138,000. 37.97% of the stock is owned by hedge funds and other 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.

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