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

Red Cat Holdings, Inc. (NASDAQ:RCAT) saw some unusual options trading on Tuesday. Traders acquired 21,751 call options on the company. This is an increase of approximately 58% compared to the typical volume of 13,792 call options.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Northland Capmk raised Red Cat to a “strong-buy” rating in a research report on Monday, March 10th. Northland Securities started coverage on Red Cat in a research report on Tuesday, March 11th. They set an “outperform” rating and a $13.00 price objective for the company.

Red Cat Trading Down 20.3%

Shares of RCAT opened at $7.32 on Wednesday. The business’s fifty day simple moving average is $6.39 and its two-hundred day simple moving average is $7.74. Red Cat has a 12 month low of $1.00 and a 12 month high of $15.27. The company has a market cap of $665.53 million, a price-to-earnings ratio of -13.56 and a beta of 1.40.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.17). Red Cat had a negative return on equity of 98.48% and a negative net margin of 232.62%. As a group, research analysts forecast that Red Cat will post -0.5 EPS for the current year.

Institutional Investors Weigh In On Red Cat

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can bought a new stake in Red Cat during the fourth quarter valued at about $166,000. Charles Schwab Investment Management Inc. raised its holdings in Red Cat by 63.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,059 shares of the company’s stock valued at $386,000 after acquiring an additional 11,661 shares during the period. Jones Financial Companies Lllp raised its holdings in Red Cat by 1,536.6% during the fourth quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company’s stock valued at $114,000 after acquiring an additional 8,344 shares during the period. LPL Financial LLC raised its holdings in Red Cat by 497.2% during the fourth quarter. LPL Financial LLC now owns 74,008 shares of the company’s stock valued at $951,000 after acquiring an additional 61,615 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Red Cat in the fourth quarter worth about $1,368,000. 37.97% of the stock is owned by institutional investors.

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.