Red Cat (NASDAQ:RCAT) Stock Price Up 3.9% – Time to Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT) traded up 3.9% during mid-day trading on Thursday . The stock traded as high as $9.89 and last traded at $9.94. 2,649,730 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 7,654,694 shares. The stock had previously closed at $9.56.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Red Cat from a “sell” rating to a “hold” rating in a report on Saturday.

Red Cat Price Performance

The company has a market cap of $870.13 million, a P/E ratio of -17.52 and a beta of 1.43. The company has a fifty day simple moving average of $7.86 and a 200-day simple moving average of $7.33.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.17). On average, analysts anticipate that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.

Insider Buying and Selling at Red Cat

In other Red Cat news, Director Nicholas Reyland Liuzza, Jr. sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $8.58, for a total transaction of $858,000.00. Following the sale, the director directly owned 387,445 shares of the company’s stock, valued at $3,324,278.10. The trade was a 20.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph David Freedman sold 150,000 shares of the business’s stock in a transaction on Monday, June 30th. The shares were 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 approximately $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 three months, insiders have 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 added to or reduced their stakes in RCAT. Charles Schwab Investment Management Inc. raised its stake in Red Cat by 63.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,059 shares of the company’s stock valued at $386,000 after purchasing an additional 11,661 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Red Cat during the fourth quarter worth $478,000. Commonwealth Equity Services LLC purchased a new stake in shares of Red Cat during the fourth quarter worth $388,000. Virtu Financial LLC purchased a new stake in shares of Red Cat during the fourth quarter worth $217,000. Finally, LPL Financial LLC raised its holdings in shares of Red Cat by 497.2% during the fourth quarter. LPL Financial LLC now owns 74,008 shares of the company’s stock worth $951,000 after acquiring an additional 61,615 shares in the last quarter. 37.97% of the stock is owned by institutional investors and hedge funds.

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.