Red Cat (NASDAQ:RCAT) Trading Up 6.3% - Time to Buy?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) shot up 6.3% during mid-day trading on Wednesday . The company traded as high as $10.95 and last traded at $10.92. 7,130,808 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 7,455,174 shares. The stock had previously closed at $10.27.

Red Cat Stock Up 5.5%

The company has a market cap of $1.11 billion, a PE ratio of -22.34 and a beta of 1.43. The stock has a 50-day moving average of $7.32 and a 200-day moving average of $7.48.

Red Cat (NASDAQ:RCAT - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.17). Research analysts expect that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.

Insider Activity

In related news, Director Joseph David Freedman sold 150,000 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $7.37, for a total value of $1,105,500.00. Following the sale, the director directly owned 165,260 shares of the company's stock, valued at $1,217,966.20. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nicholas Reyland Liuzza, Jr. sold 100,309 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $6.70, for a total value of $672,070.30. Following the completion of the sale, the director directly owned 387,445 shares in the company, valued at $2,595,881.50. The trade was a 20.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 350,309 shares of company stock worth $2,635,570. Company insiders own 15.30% of the company's stock.

Institutional Trading of Red Cat

Several large investors have recently bought and sold shares of the company. Waddell & Associates LLC purchased a new position in Red Cat in the 4th quarter worth approximately $159,643,000. Vanguard Group Inc. raised its stake in Red Cat by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company's stock valued at $32,197,000 after buying an additional 207,727 shares during the last quarter. Apis Capital Advisors LLC raised its stake in Red Cat by 4.9% during the 1st quarter. Apis Capital Advisors LLC now owns 682,000 shares of the company's stock valued at $4,010,000 after buying an additional 32,000 shares during the last quarter. Geode Capital Management LLC raised its stake in Red Cat by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 602,596 shares of the company's stock valued at $7,747,000 after buying an additional 10,594 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new stake in Red Cat during the 4th quarter valued at $6,628,000. 37.97% of the stock is owned by institutional investors.

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.