Red Cat Target of Unusually High Options Trading (NASDAQ:RCAT)

Red Cat Holdings, Inc. (NASDAQ:RCAT) was the recipient of some unusual options trading on Friday. Stock investors bought 3,018 call options on the stock. This is an increase of 68% compared to the average daily volume of 1,794 call options.

Red Cat Stock Up 16.9 %

RCAT stock opened at $4.70 on Friday. The company has a market cap of $354.42 million, a price-to-earnings ratio of -10.22 and a beta of -0.07. Red Cat has a twelve month low of $0.52 and a twelve month high of $5.01. The business has a 50 day moving average price of $3.15 and a two-hundred day moving average price of $2.20.

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

Institutional Investors Weigh In On Red Cat

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wolverine Trading LLC acquired a new stake in shares of Red Cat in the third quarter valued at approximately $233,000. State Street Corp lifted its holdings in Red Cat by 44.9% during the 3rd quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after purchasing an additional 68,800 shares during the last quarter. Centiva Capital LP acquired a new stake in Red Cat during the 3rd quarter valued at $207,000. Corsair Capital Management L.P. bought a new position in Red Cat during the third quarter worth $308,000. Finally, Pekin Hardy Strauss Inc. acquired a new position in shares of Red Cat in the third quarter valued at $138,000. 37.97% of the stock is 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.