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

Red Cat Holdings, Inc. (NASDAQ:RCAT) saw a significant 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. Based on an average daily trading volume, of 4,790,000 shares, the short-interest ratio is presently 2.5 days. Approximately 16.5% of the company’s stock are short sold.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Northland Capmk upgraded shares of Red Cat to a “strong-buy” rating in a report on Monday, March 10th. Northland Securities initiated coverage on Red Cat in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $13.00 price objective on the stock.

Red Cat Price Performance

Red Cat stock opened at $8.07 on Thursday. The business has a 50 day simple moving average of $6.09 and a 200 day simple moving average of $7.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60. The company has a market capitalization of $733.68 million, a PE ratio of -14.94 and a beta of 1.40. Red Cat has a one year low of $0.80 and a one year high of $15.27.

Red Cat (NASDAQ:RCAT) last posted 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 return on equity of 96.00% and a negative net margin of 232.62%. On average, sell-side analysts forecast that Red Cat will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Cat

A number of institutional investors and hedge funds have recently made changes to their positions in RCAT. Twin Tree Management LP acquired a new stake in Red Cat in the fourth quarter worth about $28,000. Bank of America Corp DE lifted its holdings in Red Cat by 407.0% in the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock valued at $44,000 after buying an additional 2,727 shares during the period. Squarepoint Ops LLC boosted its position in shares of Red Cat by 23.0% in the 4th quarter. Squarepoint Ops LLC now owns 15,496 shares of the company’s stock worth $199,000 after purchasing an additional 2,902 shares during the last quarter. United Capital Management of KS Inc. grew its stake in shares of Red Cat by 7.4% during the fourth quarter. United Capital Management of KS Inc. now owns 45,650 shares of the company’s stock worth $587,000 after purchasing an additional 3,150 shares during the period. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in Red Cat by 30.0% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company’s stock valued at $83,000 after purchasing an additional 3,250 shares during the last quarter. Institutional investors own 37.97% of the company’s stock.

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.