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

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 9,830,000 shares, a growth of 22.3% from the March 15th total of 8,040,000 shares. Based on an average daily trading volume, of 6,780,000 shares, the short-interest ratio is presently 1.4 days. Currently, 14.6% of the shares of the company are short sold.

Red Cat Price Performance

Shares of NASDAQ:RCAT traded down $0.10 during trading on Friday, reaching $5.19. 1,933,054 shares of the company traded hands, compared to its average volume of 4,268,950. The firm has a market capitalization of $444.78 million, a PE ratio of -9.60 and a beta of 1.34. Red Cat has a 52 week low of $0.80 and a 52 week high of $15.27. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The company's 50 day moving average is $6.04 and its two-hundred day moving average is $7.17.

Analysts Set New Price Targets

Several research analysts have recently commented on RCAT shares. Northland Securities started coverage on Red Cat in a research note on Tuesday, March 11th. They set an "outperform" rating and a $13.00 target price for the company. Northland Capmk raised shares of Red Cat to a "strong-buy" rating in a research report on Monday, March 10th.

Institutional Investors Weigh In On Red Cat

Large investors have recently bought and sold shares of the company. Twin Tree Management LP bought a new stake in shares of Red Cat during the 4th quarter worth approximately $28,000. Bank of America Corp DE lifted its stake in Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock worth $44,000 after purchasing an additional 2,727 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Red Cat in the 4th quarter valued at $48,000. SBI Securities Co. Ltd. bought a new position in shares of Red Cat in the 4th quarter valued at $60,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Red Cat by 1,536.6% during the 4th quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company's stock worth $114,000 after buying an additional 8,344 shares in the last quarter. 37.97% of the stock is currently owned by institutional investors and hedge funds.

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.