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Red Cat (NASDAQ:RCAT) Shares Down 5.7% - What's Next?

Red Cat logo with Business Services background

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s share price dropped 5.7% during mid-day trading on Wednesday . The stock traded as low as $8.92 and last traded at $9.12. Approximately 3,505,174 shares changed hands during trading, an increase of 88% from the average daily volume of 1,860,465 shares. The stock had previously closed at $9.67.

Red Cat Stock Performance

The business's 50-day moving average is $5.55 and its two-hundred day moving average is $3.33. The firm has a market capitalization of $615.04 million, a price-to-earnings ratio of -17.72 and a beta of 1.33.

Red Cat (NASDAQ:RCAT - Get Free Report) last posted its earnings results on Monday, December 16th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 last year, the business earned ($0.11) earnings per share. Analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Institutional Investors Weigh In On Red Cat

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Centiva Capital LP bought a new position in shares of Red Cat during the 3rd quarter worth approximately $207,000. Wolverine Trading LLC bought a new position in Red Cat in the third quarter valued at $233,000. Corsair Capital Management L.P. acquired a new stake in Red Cat in the 3rd quarter valued at $308,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Red Cat during the 3rd quarter worth about $138,000. Finally, Renaissance Technologies LLC bought a new position in shares of Red Cat in the 2nd quarter valued at about $267,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

Red Cat Company Profile

(Get Free Report)

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.

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