Red Cat (NASDAQ:RCAT) Sets New 1-Year High – Still a Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s share price hit a new 52-week high on Friday . The stock traded as high as $11.11 and last traded at $10.95, with a volume of 2902565 shares traded. The stock had previously closed at $9.27.

Red Cat Price Performance

The firm has a 50 day simple moving average of $4.18 and a 200-day simple moving average of $2.67. The company has a market cap of $888.16 million, a price-to-earnings ratio of -25.59 and a beta of -0.07.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings data on Monday, September 23rd. The company reported ($0.17) earnings per share for the quarter. Red Cat had a negative return on equity of 66.19% and a negative net margin of 162.50%. The company had revenue of $2.78 million for the quarter. Research analysts anticipate that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Cat

A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new stake in shares of Red Cat during the second quarter worth approximately $267,000. State Street Corp lifted 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 buying an additional 68,800 shares during the last quarter. Corsair Capital Management L.P. acquired a new stake in Red Cat during the 3rd quarter worth $308,000. Wolverine Trading LLC acquired a new stake in shares of Red Cat during the third quarter worth about $233,000. Finally, Centiva Capital LP acquired a new stake in Red Cat during the 3rd quarter worth approximately $207,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

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.