Red Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 2,850,000 shares, an increase of 32.6% from the June 15th total of 2,150,000 shares. Based on an average daily volume of 826,200 shares, the short-interest ratio is presently 3.4 days. Currently, 5.7% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
Separately, LADENBURG THALM/SH SH started coverage on shares of Red Cat in a research report on Friday, June 14th. They issued a “buy” rating and a $4.00 price objective for the company.
Get Our Latest Research Report on Red Cat
Hedge Funds Weigh In On Red Cat
Red Cat Price Performance
Red Cat stock traded down $0.03 during midday trading on Monday, reaching $1.72. The company had a trading volume of 4,674,341 shares, compared to its average volume of 571,634. The company has a market capitalization of $127.87 million, a P/E ratio of -3.79 and a beta of -0.11. The firm’s fifty day simple moving average is $1.10 and its 200-day simple moving average is $0.94. Red Cat has a 12-month low of $0.53 and a 12-month high of $2.20.
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.
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