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

Red Cat Holdings, Inc. (NASDAQ:RCAT) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 299,600 shares, a drop of 28.2% from the March 31st total of 417,100 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily volume of 463,600 shares, the days-to-cover ratio is presently 0.6 days.

Red Cat Price Performance

Shares of Red Cat stock traded down $0.07 during trading hours on Friday, hitting $1.39. 1,046,718 shares of the company’s stock traded hands, compared to its average volume of 1,108,066. Red Cat has a 12-month low of $0.53 and a 12-month high of $1.60. The stock has a market capitalization of $103.25 million, a price-to-earnings ratio of -2.67 and a beta of 0.56. The company has a fifty day simple moving average of $0.87 and a 200-day simple moving average of $0.83.

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

Institutional Investors Weigh In On Red Cat

Large investors have recently made changes to their positions in the business. Gladstone Institutional Advisory LLC bought a new position in shares of Red Cat during the 4th quarter worth $41,000. PVG Asset Management Corp bought a new position in shares of Red Cat during the 4th quarter worth $230,000. UMB Bank n.a. grew its stake in shares of Red Cat by 40.8% during the 3rd 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 period. Worth Venture Partners LLC bought a new position in shares of Red Cat during the 4th quarter worth $1,101,000. Finally, AIGH Capital Management LLC bought a new position in shares of Red Cat during the 4th quarter worth $4,423,000. 37.97% of the stock is owned by hedge funds and other 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.