Short Interest in Red Cat Holdings, Inc. (NASDAQ:RCAT) Declines By 28.2%

Red Cat Holdings, Inc. (NASDAQ:RCAT) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 299,600 shares, a decrease of 28.2% from the March 31st total of 417,100 shares. Based on an average daily volume of 463,600 shares, the short-interest ratio is currently 0.6 days. Approximately 0.6% of the company’s stock are sold short.

Institutional Investors Weigh In On Red Cat

A number of institutional investors have recently modified their holdings of the stock. AIGH Capital Management LLC purchased a new stake in shares of Red Cat in the fourth quarter worth $4,423,000. Worth Venture Partners LLC purchased a new stake in shares of Red Cat in the fourth quarter worth $1,101,000. UMB Bank n.a. grew its stake in shares of Red Cat by 40.8% in the third quarter. UMB Bank n.a. now owns 345,000 shares of the company’s stock worth $334,000 after acquiring an additional 100,000 shares during the last quarter. PVG Asset Management Corp purchased a new stake in shares of Red Cat in the fourth quarter worth $230,000. Finally, Gladstone Institutional Advisory LLC purchased a new stake in shares of Red Cat in the fourth quarter worth $41,000. 37.97% of the stock is owned by hedge funds and other institutional investors.

Red Cat Price Performance

RCAT stock traded down $0.07 during midday trading on Friday, hitting $1.39. The stock had a trading volume of 1,046,718 shares, compared to its average volume of 1,108,066. The firm has a market cap of $103.25 million, a price-to-earnings ratio of -2.67 and a beta of 0.56. The business has a 50-day moving average of $0.87 and a two-hundred day moving average of $0.83. Red Cat has a 52-week low of $0.53 and a 52-week high of $1.60.

Red Cat (NASDAQ:RCAT) last released its earnings results on Monday, March 18th. The company reported ($0.04) EPS for the quarter. Red Cat had a negative return on equity of 52.40% and a negative net margin of 206.42%. The company had revenue of $5.85 million during the quarter.

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.