Red Cat Holdings, Inc. (NASDAQ:RCAT) Short Interest Update

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 299,600 shares, a decline of 28.2% from the March 31st total of 417,100 shares. Based on an average daily volume of 463,600 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.6% of the shares of the stock are short sold.

Hedge Funds Weigh In On Red Cat

Hedge funds have recently bought and sold shares of the stock. Gladstone Institutional Advisory LLC purchased a new stake in shares of Red Cat in the fourth quarter valued at $41,000. PVG Asset Management Corp purchased a new stake in shares of Red Cat in the fourth quarter valued at $230,000. UMB Bank n.a. grew its position in shares of Red Cat by 40.8% in the third quarter. UMB Bank n.a. now owns 345,000 shares of the company's stock valued at $334,000 after purchasing an additional 100,000 shares during the period. Worth Venture Partners LLC purchased a new stake in shares of Red Cat in the fourth quarter valued at $1,101,000. Finally, AIGH Capital Management LLC purchased a new stake in shares of Red Cat in the fourth quarter valued at $4,423,000. Hedge funds and other institutional investors own 37.97% of the company's stock.

Red Cat Price Performance

Red Cat stock traded down $0.07 during mid-day trading on Friday, hitting $1.39. 1,046,718 shares of the company were exchanged, compared to its average volume of 1,108,066. The business's 50 day simple moving average is $0.87 and its two-hundred day simple moving average is $0.83. The company has a market capitalization of $103.25 million, a P/E ratio of -2.67 and a beta of 0.56. Red Cat has a 12-month low of $0.53 and a 12-month high of $1.60.

Red Cat (NASDAQ:RCAT - Get Free Report) last released its quarterly earnings results on Monday, March 18th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $5.85 million for the quarter. Red Cat had a negative return on equity of 52.40% and a negative net margin of 206.42%.

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.