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

Red Cat Holdings, Inc. (NASDAQ:RCAT) was the recipient of some unusual options trading on Friday. Investors bought 28,724 call options on the company. This is an increase of approximately 136% compared to the average daily volume of 12,180 call options.

Red Cat Stock Performance

NASDAQ:RCAT opened at $8.57 on Friday. The stock has a 50-day simple moving average of $7.01 and a two-hundred day simple moving average of $7.51. Red Cat has a 52-week low of $1.56 and a 52-week high of $15.27. The firm has a market capitalization of $788.27 million, a PE ratio of -15.87 and a beta of 1.43.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.17). Equities analysts forecast that Red Cat will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Nicholas Reyland Liuzza, Jr. sold 100,000 shares of Red Cat stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $8.58, for a total transaction of $858,000.00. Following the transaction, the director owned 387,445 shares of the company’s stock, valued at $3,324,278.10. The trade was a 20.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph David Freedman sold 150,000 shares of the business’s stock in a transaction on Monday, June 30th. The stock was sold at an average price of $7.37, for a total value of $1,105,500.00. Following the completion of the transaction, the director directly owned 165,260 shares in the company, valued at approximately $1,217,966.20. This represents a 47.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 350,309 shares of company stock valued at $2,635,570 in the last three months. Insiders own 15.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RCAT. Jones Financial Companies Lllp lifted its holdings in shares of Red Cat by 1,536.6% during the 4th quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company’s stock valued at $114,000 after purchasing an additional 8,344 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Red Cat by 63.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,059 shares of the company’s stock valued at $386,000 after purchasing an additional 11,661 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Red Cat in the 4th quarter valued at $478,000. Daiwa Securities Group Inc. acquired a new position in shares of Red Cat in the 4th quarter valued at $118,000. Finally, Moors & Cabot Inc. acquired a new position in shares of Red Cat in the 4th quarter valued at $554,000. Institutional investors own 37.97% of the company’s stock.

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.