Investors Buy Large Volume of Call Options on Red Cat (NASDAQ:RCAT)

Red Cat Holdings, Inc. (NASDAQ:RCAT) saw some unusual options trading on Friday. Traders bought 3,018 call options on the stock. This is an increase of approximately 68% compared to the typical daily volume of 1,794 call options.

Red Cat Price Performance

Shares of NASDAQ RCAT opened at $4.70 on Friday. The firm has a market cap of $354.42 million, a price-to-earnings ratio of -10.22 and a beta of -0.07. The stock’s fifty day moving average price is $3.15 and its two-hundred day moving average price is $2.20. Red Cat has a one year low of $0.52 and a one year high of $5.01.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Monday, September 23rd. The company reported ($0.17) EPS for the quarter. Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. The business had revenue of $2.78 million during the quarter. On average, equities analysts anticipate that Red Cat will post -0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Sheets Smith Wealth Management acquired a new stake in Red Cat during the third quarter worth approximately $51,000. United Capital Management of KS Inc. bought a new stake in shares of Red Cat during the 3rd quarter valued at $108,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Red Cat during the 3rd quarter worth $138,000. PVG Asset Management Corp bought a new position in shares of Red Cat in the second quarter worth $63,000. Finally, XTX Topco Ltd raised its stake in Red Cat by 390.9% in 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 in the last quarter. 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.