Traders Purchase High Volume of Red Cat Call Options (NASDAQ:RCAT)

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 23,381 call options on the stock. This represents an increase of approximately 76% compared to the average volume of 13,288 call options.

Red Cat Price Performance

RCAT traded down $0.62 during trading hours on Thursday, hitting $7.46. The company's stock had a trading volume of 6,614,235 shares, compared to its average volume of 4,846,357. The business's 50-day moving average price is $6.09 and its 200-day moving average price is $7.73. Red Cat has a 12 month low of $0.80 and a 12 month high of $15.27. The stock has a market cap of $677.77 million, a price-to-earnings ratio of -13.81 and a beta of 1.40. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30.

Red Cat (NASDAQ:RCAT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.17). Red Cat had a negative return on equity of 96.00% and a negative net margin of 232.62%. Sell-side analysts expect that Red Cat will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Cat

Several large investors have recently bought and sold shares of the business. Waddell & Associates LLC bought a new stake in Red Cat in the fourth quarter worth $159,643,000. Vanguard Group Inc. boosted its stake in Red Cat by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company's stock worth $32,197,000 after buying an additional 207,727 shares during the period. Apis Capital Advisors LLC boosted its stake in Red Cat by 4.9% during the first quarter. Apis Capital Advisors LLC now owns 682,000 shares of the company's stock worth $4,010,000 after buying an additional 32,000 shares during the period. Geode Capital Management LLC boosted its stake in Red Cat by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 602,596 shares of the company's stock worth $7,747,000 after buying an additional 10,594 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in Red Cat during the fourth quarter worth $6,628,000. Institutional investors own 37.97% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RCAT shares. Northland Capmk upgraded shares of Red Cat to a "strong-buy" rating in a research report on Monday, March 10th. Northland Securities assumed coverage on shares of Red Cat in a research report on Tuesday, March 11th. They set an "outperform" rating and a $13.00 price objective on the 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.