Red Cat Sees Unusually High Options Volume (NASDAQ:RCAT)

Red Cat Holdings, Inc. (NASDAQ:RCAT) was the target of unusually large options trading activity on Monday. Traders acquired 23,381 call options on the company. This is an increase of approximately 76% compared to the typical daily volume of 13,288 call options.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Northland Capmk raised Red Cat to a “strong-buy” rating in a report on Monday, March 10th. Northland Securities began coverage on Red Cat in a report on Tuesday, March 11th. They set an “outperform” rating and a $13.00 target price for the company.

Institutional Trading of Red Cat

Several institutional investors have recently added to or reduced their stakes in the business. Waddell & Associates LLC bought a new position in Red Cat during the fourth quarter valued at approximately $159,643,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Red Cat in the fourth quarter worth $6,628,000. Captrust Financial Advisors purchased a new stake in Red Cat in the 4th quarter worth $4,262,000. Apis Capital Advisors LLC raised its stake in Red Cat by 61.7% during the 4th quarter. Apis Capital Advisors LLC now owns 650,000 shares of the company’s stock valued at $8,352,000 after purchasing an additional 248,000 shares during the period. Finally, GW Henssler & Associates Ltd. bought a new stake in shares of Red Cat during the first quarter valued at approximately $1,297,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Red Cat Stock Up 7.3%

NASDAQ:RCAT opened at $6.93 on Wednesday. The company has a market capitalization of $630.04 million, a PE ratio of -12.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60. Red Cat has a 1-year low of $0.80 and a 1-year high of $15.27. The firm’s 50-day moving average price is $6.04 and its 200-day moving average price is $7.72.

Red Cat (NASDAQ:RCAT) last released its earnings results on Wednesday, May 14th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.17). Red Cat had a negative return on equity of 96.00% and a negative net margin of 232.62%. On average, equities analysts predict that Red Cat will post -0.5 EPS for the current fiscal year.

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.