Red Cat (NASDAQ:RCAT) Sees Unusually-High Trading Volume - What's Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) shares saw an uptick in trading volume on Monday . 3,750,850 shares were traded during mid-day trading, an increase of 66% from the previous session's volume of 2,260,316 shares.The stock last traded at $12.08 and had previously closed at $12.26.

Red Cat Price Performance

The firm has a market capitalization of $1.13 billion, a P/E ratio of -30.63 and a beta of 1.33. The company has a fifty day moving average of $6.79 and a 200 day moving average of $3.90.

Red Cat (NASDAQ:RCAT - Get Free Report) last posted its quarterly earnings data on Monday, December 16th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.27). Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. During the same quarter in the prior year, the business earned ($0.11) earnings per share. On average, sell-side analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Insider Buying and Selling at Red Cat

In other news, insider George Michael Matus sold 309,491 shares of Red Cat stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $14.27, for a total value of $4,416,436.57. Following the completion of the sale, the insider now owns 304,406 shares in the company, valued at $4,343,873.62. The trade was a 50.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $10.44, for a total transaction of $1,188,312.12. Following the transaction, the executive now directly owns 558,325 shares in the company, valued at approximately $5,828,913. This represents a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,930,441 shares of company stock valued at $21,099,751. 21.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCAT. Renaissance Technologies LLC acquired a new position in shares of Red Cat during the second quarter worth approximately $267,000. State Street Corp increased its stake in Red Cat by 44.9% during the 3rd quarter. State Street Corp now owns 221,958 shares of the company's stock valued at $564,000 after purchasing an additional 68,800 shares in the last quarter. Corsair Capital Management L.P. acquired a new position in Red Cat during the third quarter worth $308,000. Wolverine Trading LLC bought a new position in shares of Red Cat in the third quarter valued at $233,000. Finally, Centiva Capital LP acquired a new position in shares of Red Cat during the third quarter valued at about $207,000. Institutional investors 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.