Short Interest in Red Cat Holdings, Inc. (NASDAQ:RCAT) Decreases By 44.6%

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 8,040,000 shares, a drop of 44.6% from the February 28th total of 14,520,000 shares. Based on an average daily volume of 8,480,000 shares, the short-interest ratio is presently 0.9 days. Currently, 11.9% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

RCAT has been the subject of a number of recent research reports. Northland Securities assumed coverage on Red Cat in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $13.00 target price for the company. Northland Capmk upgraded Red Cat to a "strong-buy" rating in a research report on Monday, March 10th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC boosted its position in shares of Red Cat by 23.0% during the fourth quarter. Squarepoint Ops LLC now owns 15,496 shares of the company's stock valued at $199,000 after purchasing an additional 2,902 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Red Cat during the 4th quarter valued at $362,000. Tidal Investments LLC purchased a new stake in shares of Red Cat in the 4th quarter worth about $270,000. Nomura Holdings Inc. bought a new position in shares of Red Cat in the 4th quarter worth about $180,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Red Cat during the 4th quarter valued at about $1,714,000. Hedge funds and other institutional investors own 37.97% of the company's stock.

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Red Cat Trading Up 4.1 %

Shares of NASDAQ:RCAT traded up $0.24 during midday trading on Tuesday, hitting $6.12. 2,685,427 shares of the stock traded hands, compared to its average volume of 3,991,416. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $524.32 million, a PE ratio of -11.30 and a beta of 1.32. Red Cat has a one year low of $0.75 and a one year high of $15.27. The business's 50 day moving average is $7.34 and its two-hundred day moving average is $6.82.

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.