Red Cat (NASDAQ:RCAT) Shares Gap Down - What's Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $8.15, but opened at $7.98. Red Cat shares last traded at $8.29, with a volume of 1,136,280 shares trading hands.

Red Cat Stock Up 11.5 %

The company has a 50 day simple moving average of $5.64 and a 200 day simple moving average of $3.37. The stock has a market cap of $685.98 million, a price-to-earnings ratio of -19.76 and a beta of 1.33.

Red Cat (NASDAQ:RCAT - Get Free Report) last issued its quarterly earnings data on Monday, December 16th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate 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 company posted ($0.11) earnings per share. As a group, analysts predict that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Cat

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in shares of Red Cat during the third quarter worth about $25,000. Sheets Smith Wealth Management bought a new stake in Red Cat during the 3rd quarter worth approximately $51,000. PVG Asset Management Corp bought a new stake in Red Cat during the 2nd quarter worth approximately $63,000. XTX Topco Ltd increased 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 during the period. Finally, United Capital Management of KS Inc. bought a new position in shares of Red Cat during the third quarter valued at $108,000. 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.