Red Cat (NASDAQ:RCAT) Trading Down 3.9% – Time to Sell?

Red Cat Holdings, Inc. (NASDAQ:RCAT) was down 3.9% on Friday . The stock traded as low as $8.22 and last traded at $8.32. Approximately 752,355 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 1,505,936 shares. The stock had previously closed at $8.66.

Red Cat Stock Down 5.7 %

The firm has a market capitalization of $616.51 million, a price-to-earnings ratio of -17.76 and a beta of 1.33. The business has a 50-day moving average of $4.82 and a two-hundred day moving average of $2.95.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in Red Cat during the 3rd quarter worth about $25,000. Sheets Smith Wealth Management acquired a new stake in shares of Red Cat in the third quarter valued at about $51,000. PVG Asset Management Corp acquired a new position in Red Cat during the second 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 position in Red Cat in the third quarter valued at approximately $108,000. Institutional investors own 37.97% of the company’s stock.

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.