Red Cat (NASDAQ:RCAT) Hits New 12-Month High - Should You Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $15.27 and last traded at $14.19, with a volume of 16418037 shares traded. The stock had previously closed at $13.20.

Red Cat Trading Down 8.0 %

The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -28.39 and a beta of 1.32. The stock's 50 day moving average is $8.22 and its 200 day moving average is $4.50.

Red Cat (NASDAQ:RCAT - Get Free Report) last issued its quarterly earnings data on Monday, December 16th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the firm earned ($0.11) EPS. On average, sell-side analysts anticipate that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Insider Buying and Selling at Red Cat

In other Red Cat news, CEO Jeffrey M. Thompson sold 392,551 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $11.34, for a total transaction of $4,451,528.34. Following the completion of the sale, the chief executive officer now directly owns 13,121,898 shares in the company, valued at $148,802,323.32. This represents a 2.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of Red Cat 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 completion of the transaction, the director now directly owns 681,072 shares in the company, valued at $5,646,086.88. This represents a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,930,441 shares of company stock worth $21,099,751. Insiders own 21.50% of the company's stock.

Institutional Investors Weigh In On Red Cat

A number of large investors have recently modified their holdings of the stock. Centiva Capital LP purchased a new stake in Red Cat during the 3rd quarter worth $207,000. Wolverine Trading LLC acquired a new stake in shares of Red Cat during the third quarter worth approximately $233,000. Corsair Capital Management L.P. acquired a new stake in Red Cat in the third quarter valued at $308,000. Pekin Hardy Strauss Inc. bought a new position in Red Cat during the 3rd quarter valued at $138,000. Finally, State Street Corp increased its position in shares of Red Cat by 44.9% in the 3rd quarter. State Street Corp now owns 221,958 shares of the company's stock worth $564,000 after purchasing an additional 68,800 shares during the last quarter. Institutional investors and hedge funds own 37.97% of the company's stock.

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.