Red Cat Sees Unusually Large Options Volume (NASDAQ:RCAT)

Red Cat Holdings, Inc. (NASDAQ:RCAT) was the recipient of unusually large options trading on Monday. Stock traders purchased 37,057 call options on the stock. This represents an increase of approximately 539% compared to the typical volume of 5,795 call options.

Institutional Trading of Red Cat

Large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of Red Cat in the 3rd quarter worth about $25,000. Sheets Smith Wealth Management purchased a new position in Red Cat in the third quarter worth about $51,000. PVG Asset Management Corp bought a new stake in Red Cat during the second quarter worth approximately $63,000. XTX Topco Ltd raised 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 period. 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 own 37.97% of the company’s stock.

Red Cat Price Performance

Shares of RCAT opened at $9.67 on Wednesday. The firm has a market cap of $729.70 million, a P/E ratio of -21.02 and a beta of 1.33. Red Cat has a 1 year low of $0.56 and a 1 year high of $12.57. The company has a 50 day simple moving average of $5.55 and a two-hundred day simple moving average of $3.33.

Red Cat (NASDAQ:RCAT) last posted its earnings results on Monday, December 16th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.27). Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. During the same quarter in the previous year, the firm earned ($0.11) EPS. On average, sell-side analysts anticipate that Red Cat will post -0.39 earnings per share for the current year.

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.