Red Cat (NASDAQ:RCAT) Hits New 52-Week High – What’s Next?

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

Red Cat Stock Up 27.0 %

The firm has a 50 day moving average price of $4.18 and a 200 day moving average price of $2.67. The stock has a market cap of $888.16 million, a PE ratio of -25.59 and a beta of -0.07.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new stake in shares of Red Cat in the third quarter worth $25,000. Sheets Smith Wealth Management acquired a new position in shares of Red Cat during the 3rd quarter worth about $51,000. United Capital Management of KS Inc. purchased a new position in shares of Red Cat in the third quarter valued at approximately $108,000. XTX Topco Ltd boosted its stake in Red Cat by 390.9% during the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after purchasing an additional 46,897 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new position in Red Cat during the third quarter worth about $138,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

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.