Red Cat (NASDAQ:RCAT) Reaches New 1-Year High – Still a Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $6.85 and last traded at $6.74, with a volume of 14153842 shares traded. The stock had previously closed at $4.74.

Red Cat Trading Up 33.3 %

The company has a market cap of $476.94 million, a P/E ratio of -14.20 and a beta of -0.07. The company has a 50-day simple moving average of $3.23 and a 200 day simple moving average of $2.26.

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

Institutional Investors Weigh In On Red Cat

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in Red Cat during the 2nd quarter worth $267,000. Sheets Smith Wealth Management acquired a new position in shares of Red Cat during the third quarter valued at approximately $51,000. PVG Asset Management Corp bought a new stake in shares of Red Cat in the 2nd quarter worth $63,000. XTX Topco Ltd boosted its position in shares of Red Cat by 390.9% during the 2nd 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. Finally, State Street Corp boosted its holdings in Red Cat by 44.9% during the third quarter. State Street Corp now owns 221,958 shares of the company’s stock worth $564,000 after buying an additional 68,800 shares in the last quarter. Hedge funds and other 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.