Red Cat Holdings, Inc. (NASDAQ:RCAT) Short Interest Update

Red Cat Holdings, Inc. (NASDAQ:RCAT) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 8,040,000 shares, a decrease of 44.6% from the February 28th total of 14,520,000 shares. Approximately 11.9% of the company’s shares are sold short. Based on an average daily trading volume, of 8,480,000 shares, the short-interest ratio is currently 0.9 days.

Analyst Ratings Changes

Several brokerages recently issued reports on RCAT. Northland Capmk upgraded shares of Red Cat to a “strong-buy” rating in a research note on Monday, March 10th. Northland Securities assumed coverage on shares of Red Cat in a report on Tuesday, March 11th. They set an “outperform” rating and a $13.00 target price for the company.

Red Cat Stock Down 5.4 %

Shares of RCAT traded down $0.33 during trading hours on Friday, hitting $5.68. The company had a trading volume of 1,089,674 shares, compared to its average volume of 3,938,352. Red Cat has a 52-week low of $0.75 and a 52-week high of $15.27. The firm has a fifty day moving average price of $7.45 and a 200-day moving average price of $6.72. The stock has a market capitalization of $485.88 million, a price-to-earnings ratio of -10.51 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43.

Insider Buying and Selling

In related news, Director Joseph David Freedman sold 15,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $14.24, for a total value of $213,600.00. Following the sale, the director now directly owns 585,190 shares of the company’s stock, valued at $8,333,105.60. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RCAT. Twin Tree Management LP purchased a new position in Red Cat in the 4th quarter worth approximately $28,000. Bank of America Corp DE raised its stake in shares of Red Cat by 407.0% in the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock worth $44,000 after purchasing an additional 2,727 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of Red Cat by 23.0% during the fourth quarter. Squarepoint Ops LLC now owns 15,496 shares of the company’s stock valued at $199,000 after buying an additional 2,902 shares during the last quarter. United Capital Management of KS Inc. boosted its position 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 valued at $587,000 after buying an additional 3,150 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC increased its holdings in Red Cat by 34.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company’s stock worth $172,000 after buying an additional 3,400 shares in the last quarter. 37.97% of the stock is owned by hedge funds and other 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.