Red Cat Holdings, Inc. (NASDAQ:RCAT – Get Free Report) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 2,850,000 shares, an increase of 32.6% from the June 15th total of 2,150,000 shares. Based on an average daily volume of 826,200 shares, the short-interest ratio is presently 3.4 days. Currently, 5.7% of the company’s shares are sold short.
Analyst Upgrades and Downgrades
Separately, LADENBURG THALM/SH SH initiated coverage on Red Cat in a research note on Friday, June 14th. They issued a “buy” rating and a $4.00 price target on the stock.
Read Our Latest Research Report on RCAT
Institutional Trading of Red Cat
Red Cat Stock Performance
Shares of RCAT stock traded down $0.03 during midday trading on Monday, hitting $1.72. 4,674,341 shares of the company were exchanged, compared to its average volume of 571,634. The firm’s 50 day moving average price is $1.10 and its two-hundred day moving average price is $0.94. The firm has a market capitalization of $127.87 million, a P/E ratio of -3.79 and a beta of -0.11. Red Cat has a 52 week low of $0.53 and a 52 week high of $2.20.
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.
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