Red Cat Sees Unusually High Options Volume (NASDAQ:RCAT)

Red Cat Holdings, Inc. (NASDAQ:RCAT) was the recipient of unusually large options trading on Friday. Traders acquired 3,018 call options on the stock. This represents an increase of approximately 68% compared to the average volume of 1,794 call options.

Institutional Investors Weigh In On Red Cat

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new position in Red Cat in the 2nd quarter valued at $267,000. PVG Asset Management Corp acquired a new position in Red Cat in the second quarter valued at about $63,000. Sheets Smith Wealth Management acquired a new position in Red Cat in the third quarter valued at about $51,000. XTX Topco Ltd lifted its position in Red Cat by 390.9% during the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after purchasing an additional 46,897 shares during the period. Finally, State Street Corp increased its holdings in Red Cat by 44.9% in the 3rd quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after buying an additional 68,800 shares during the period. 37.97% of the stock is currently owned by institutional investors.

Red Cat Price Performance

RCAT opened at $4.70 on Friday. The stock has a fifty day moving average of $3.15 and a 200-day moving average of $2.21. Red Cat has a fifty-two week low of $0.52 and a fifty-two week high of $5.01.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Monday, September 23rd. The company reported ($0.17) earnings per share for the quarter. Red Cat had a negative return on equity of 66.19% and a negative net margin of 162.50%. The business had revenue of $2.78 million during the quarter. On average, equities research analysts predict that Red Cat will post -0.33 earnings per share for the current fiscal year.

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.