Stock Traders Buy Large Volume of Red Cat Call Options (NASDAQ:RCAT)

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) saw unusually large options trading on Monday. Investors purchased 37,057 call options on the company. This represents an increase of approximately 539% compared to the average daily volume of 5,795 call options.

Institutional Investors Weigh In On Red Cat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in Red Cat in the 2nd quarter valued at about $267,000. Corsair Capital Management L.P. acquired a new stake in Red Cat during the third quarter valued at approximately $308,000. Wolverine Trading LLC acquired a new stake in Red Cat during the third quarter valued at approximately $233,000. Centiva Capital LP bought a new stake in Red Cat during the third quarter worth approximately $207,000. Finally, State Street Corp grew its position in Red Cat by 44.9% in the third quarter. State Street Corp now owns 221,958 shares of the company's stock worth $564,000 after buying an additional 68,800 shares during the last quarter. Institutional investors own 37.97% of the company's stock.

Red Cat Price Performance

Shares of RCAT traded up $2.22 during trading hours on Monday, reaching $10.45. 47,845,316 shares of the company's stock traded hands, compared to its average volume of 1,789,886. Red Cat has a twelve month low of $0.56 and a twelve month high of $12.57. The business's fifty day simple moving average is $5.27 and its two-hundred day simple moving average is $3.21. The firm has a market capitalization of $788.56 million, a price-to-earnings ratio of -20.76 and a beta of 1.33.

Red Cat (NASDAQ:RCAT - Get Free Report) last released its earnings results 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 last year, the firm posted ($0.11) EPS. On average, equities research analysts expect that Red Cat will post -0.39 EPS for the current 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.