Short Interest in Red Cat Holdings, Inc. (NASDAQ:RCAT) Decreases By 12.8%

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) was the recipient of a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 11,930,000 shares, a decline of 12.8% from the April 30th total of 13,680,000 shares. Approximately 16.5% of the company's shares are sold short. Based on an average daily trading volume, of 4,790,000 shares, the short-interest ratio is currently 2.5 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RCAT. U.S. Capital Wealth Advisors LLC acquired a new position in Red Cat during the 4th quarter worth approximately $139,000. Silver Oak Securities Incorporated raised its stake in shares of Red Cat by 502.3% in the fourth quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company's stock worth $856,000 after purchasing an additional 50,668 shares during the last quarter. Gladstone Institutional Advisory LLC raised its stake in shares of Red Cat by 34.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company's stock worth $172,000 after purchasing an additional 3,400 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Red Cat in the fourth quarter worth approximately $353,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Red Cat in the fourth quarter worth approximately $134,000. 37.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RCAT has been the topic of a number of analyst reports. Northland Securities initiated coverage on Red Cat in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $13.00 price target on the stock. Northland Capmk upgraded Red Cat to a "strong-buy" rating in a research report on Monday, March 10th.

Red Cat Trading Up 11.5%

RCAT traded up $0.84 during trading on Friday, hitting $8.16. The company's stock had a trading volume of 16,047,238 shares, compared to its average volume of 4,952,667. The firm has a market capitalization of $741.87 million, a P/E ratio of -15.11 and a beta of 1.40. Red Cat has a twelve month low of $0.81 and a twelve month high of $15.27. The stock's fifty day moving average price is $6.15 and its 200-day moving average price is $7.78. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30.

Red Cat (NASDAQ:RCAT - Get Free Report) last released its quarterly earnings data 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 net margin of 232.62% and a negative return on equity of 96.00%. Analysts anticipate that Red Cat will post -0.5 EPS 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.