Red Cat (NASDAQ:RCAT) Shares Gap Up - Should You Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $8.23, but opened at $9.86. Red Cat shares last traded at $9.19, with a volume of 14,888,482 shares changing hands.

Red Cat Trading Up 27.0 %

The business's fifty day simple moving average is $5.42 and its 200-day simple moving average is $3.27. The firm has a market cap of $788.56 million, a P/E ratio of -22.72 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) earnings per share (EPS) 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 period in the previous year, the firm posted ($0.11) EPS. As a group, research analysts expect that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of Red Cat

Several institutional investors and hedge funds have recently bought and sold shares of RCAT. Renaissance Technologies LLC bought a new stake in shares of Red Cat during the 2nd quarter valued at about $267,000. State Street Corp increased its stake in Red Cat by 44.9% in the third quarter. State Street Corp now owns 221,958 shares of the company's stock valued at $564,000 after acquiring an additional 68,800 shares during the last quarter. Corsair Capital Management L.P. purchased a new stake in Red Cat during the third quarter valued at about $308,000. Wolverine Trading LLC purchased a new position in shares of Red Cat in the 3rd quarter worth about $233,000. Finally, Centiva Capital LP bought a new position in shares of Red Cat during the 3rd quarter valued at about $207,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Red Cat Company Profile

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.