Traders Purchase Large 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 on Friday. Traders acquired 28,724 call options on the company. This represents an increase of 136% compared to the average daily volume of 12,180 call options.

Red Cat Stock Performance

Red Cat stock traded up $1.79 during midday trading on Friday, reaching $8.57. 42,668,085 shares of the company's stock were exchanged, compared to its average volume of 5,860,003. Red Cat has a 52 week low of $1.56 and a 52 week high of $15.27. The firm has a market cap of $788.27 million, a price-to-earnings ratio of -15.87 and a beta of 1.43. The stock's 50-day simple moving average is $7.01 and its 200 day simple moving average is $7.51.

Red Cat (NASDAQ:RCAT - Get Free Report) last posted 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 forecast that Red Cat will post -0.5 earnings per share for the current year.

Insider Buying and Selling

In other Red Cat news, Director Nicholas Reyland Liuzza, Jr. sold 100,309 shares of the firm's stock in a transaction that occurred on 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 transaction, the director directly owned 387,445 shares in the company, valued at $2,595,881.50. This trade represents a 20.57% 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 Joseph David Freedman sold 150,000 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $7.37, for a total transaction of $1,105,500.00. Following the sale, the director directly owned 165,260 shares in the company, valued at $1,217,966.20. This trade represents a 47.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 350,309 shares of company stock valued at $2,635,570. Corporate insiders own 15.30% of the company's stock.

Institutional Trading of Red Cat

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new position in Red Cat in the 2nd quarter valued at about $180,000. Post Resch Tallon Group Inc. bought a new position in Red Cat in the 2nd quarter valued at about $154,000. Goldman Sachs Group Inc. increased its holdings in Red Cat by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 266,099 shares of the company's stock valued at $1,565,000 after buying an additional 59,334 shares during the period. Everstar Asset Management LLC bought a new position in Red Cat in the 1st quarter valued at about $211,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Red Cat by 63.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 229,259 shares of the company's stock valued at $1,348,000 after buying an additional 89,095 shares during the period. 37.97% of the stock is currently owned by institutional investors.

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.