Red Cat Holdings, Inc. (NASDAQ:RCAT) Short Interest Up 22.3% in August

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) saw a significant increase in short interest in August. As of August 15th, there was short interest totalling 3,230,000 shares, an increase of 22.3% from the July 31st total of 2,640,000 shares. Approximately 6.4% of the company's stock are sold short. Based on an average daily trading volume, of 987,600 shares, the short-interest ratio is currently 3.3 days.Analyst Upgrades and DowngradesSeparately, LADENBURG THALM/SH SH started coverage on Red Cat in a research report on Friday, June 14th. They set a "buy" rating and a $4.00 target price on the stock.Read Our Latest Research Report on RCATHedge Funds Weigh In On Red CatInstitutional investors have recently added to or reduced their stakes in the stock. Gladstone Institutional Advisory LLC acquired a new position in Red Cat in the 4th quarter valued at about $41,000. PVG Asset Management Corp purchased a new stake in Red Cat in the 2nd quarter valued at approximately $63,000. XTX Topco Ltd boosted its holdings in Red Cat by 390.9% in the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company's stock valued at $68,000 after purchasing an additional 46,897 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Red Cat in the 2nd quarter valued at approximately $267,000. Finally, Worth Venture Partners LLC purchased a new stake in Red Cat in the 4th quarter valued at approximately $1,101,000. Institutional investors and hedge funds own 37.97% of the company's stock. Red Cat Stock PerformanceRCAT opened at $3.11 on Friday. The business's 50-day simple moving average is $2.07 and its 200-day simple moving average is $1.35. Red Cat has a one year low of $0.52 and a one year high of $3.27. The stock has a market capitalization of $231.02 million, a P/E ratio of -5.98 and a beta of -0.09. Red Cat (NASDAQ:RCAT - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $6.31 million during the quarter. Red Cat had a negative net margin of 134.84% and a negative return on equity of 45.56%. On average, equities research analysts forecast that Red Cat will post -0.22 EPS for the current fiscal year. About Red Cat (Get Free Report)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.Featured ArticlesFive stocks we like better than Red Cat10 Best Airline Stocks to BuyBirkenstock’s Sudden Slide—Why It Might Be Your Next Big WinAbout the Markup CalculatorVeeva’s Stock Jumps on Stellar Q2 Results—Don’t Miss OutInvesting in the High PE Growth Stocks MarketBeat Week in Review – 8/26 - 8/30This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.→ What if you could invest in the first Atomic Bomb? (From Paradigm Press) (Ad)Should you invest $1,000 in Red Cat right now?Before you consider Red Cat, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Red Cat wasn't on the list.While Red Cat currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here