Red Cat (NASDAQ:RCAT) Sets New 12-Month High – Still a Buy?

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

Red Cat Trading Up 18.8 %

The company has a market cap of $830.81 million, a P/E ratio of -23.80 and a beta of -0.07. The company’s 50-day moving average price is $3.88 and its two-hundred day moving average price is $2.55.

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

Institutional Trading of Red Cat

Hedge funds and other institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in Red Cat during the 3rd quarter valued at about $25,000. Sheets Smith Wealth Management acquired a new position in Red Cat in the 3rd quarter valued at approximately $51,000. PVG Asset Management Corp acquired a new position in Red Cat in the 2nd quarter valued at approximately $63,000. XTX Topco Ltd boosted its position in Red Cat by 390.9% during the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after purchasing an additional 46,897 shares during the last quarter. Finally, United Capital Management of KS Inc. bought a new stake in shares of Red Cat in the 3rd quarter valued at approximately $108,000. Institutional investors and hedge funds 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.