Red Cat Target of Unusually Large Options Trading (NASDAQ:RCAT)

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) was the recipient of some unusual options trading on Friday. Stock traders acquired 3,018 call options on the stock. This represents an increase of 68% compared to the average daily volume of 1,794 call options.

Institutional Investors Weigh In On Red Cat

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sheets Smith Wealth Management purchased a new stake in Red Cat during the third quarter worth $51,000. PVG Asset Management Corp acquired a new position in Red Cat in the 2nd quarter worth about $63,000. XTX Topco Ltd raised its holdings in Red Cat by 390.9% in the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company's stock worth $68,000 after purchasing an additional 46,897 shares during the period. United Capital Management of KS Inc. purchased a new position in Red Cat during the third quarter worth approximately $108,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in Red Cat in the third quarter valued at approximately $138,000. Institutional investors and hedge funds own 37.97% of the company's stock.

Red Cat Price Performance

Red Cat stock traded up $0.68 during trading hours on Friday, reaching $4.70. The stock had a trading volume of 7,415,004 shares, compared to its average volume of 936,353. Red Cat has a 52 week low of $0.52 and a 52 week high of $5.01. The company has a market cap of $354.42 million, a price-to-earnings ratio of -10.22 and a beta of -0.07. The business's 50 day moving average price is $3.15 and its 200-day moving average price is $2.20.

Red Cat (NASDAQ:RCAT - Get Free Report) last announced its earnings results on Monday, September 23rd. The company reported ($0.17) earnings per share for the quarter. Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. The firm had revenue of $2.78 million during the quarter. On average, sell-side analysts forecast that Red Cat will post -0.33 EPS for the current fiscal year.

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.