During the recent session, Red Cat Holdings Inc (NASDAQ:RCAT)’s traded shares were 0.61 million, with the beta value of the company hitting -0.39. At the last check today, the stock’s price was $2.31, reflecting an intraday gain of 14.36% or $0.29. The 52-week high for the RCAT share is $2.47, that puts it down -6.93 from that peak though still a striking 77.49% gain since the share price plummeted to a 52-week low of $0.52. The company’s market capitalization is $171.59M, and the average intraday trading volume over the past 10 days was 1.05 million shares, and the average trade volume was 821.99K shares over the past three months.
Red Cat Holdings Inc (NASDAQ:RCAT) trade information
Red Cat Holdings Inc (RCAT) registered a 14.36% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 14.36% in intraday trading to $2.31, hitting a weekly high. The stock’s 5-day price performance is 18.46%, and it has moved by 43.48% in 30 days. Based on these gigs, the overall price performance for the year is 135.71%. The short interest in Red Cat Holdings Inc (NASDAQ:RCAT) is 2.96 million shares and it means that shorts have 2.86 day(s) to cover.
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Red Cat Holdings Inc (RCAT) estimates and forecasts
Statistics show that Red Cat Holdings Inc has outperformed its competitors in share price, compared to the industry in which it operates. Red Cat Holdings Inc (RCAT) shares have gone up 258.97% during the last six months, with a year-to-date growth rate more than the industry average at 36.11% against 14.10. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 18.20% this quarter and then jump 40.00% in the quarter after that. In the rating firms’ projections, revenue will increase 82.80% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 3.85M as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to 7.27M by the end of current fiscal year.
While earnings are projected to return 57.50% in 2024.
Red Cat Holdings Inc (NASDAQ:RCAT)’s Major holders
Red Cat Holdings Inc insiders own 27.68% of total outstanding shares while institutional holders control 19.42%, with the float percentage being 26.85%. AWM INVESTMENT COMPANY, INC. is the largest shareholder of the company, while 44.0 institutions own stock in it. As of 2024-03-31, the company held over 5.0 million shares (or 8.9786% of all shares), a total value of $3.83 million in shares.
The next largest institutional holding, with 4.96 million shares, is of AIGH CAPITAL MANAGEMENT LLC’s that is approximately 8.9155% of outstanding shares. At the market price on 2024-03-31, these shares were valued at $3.8 million.
Also, the Mutual Funds coming in first place with the largest holdings of Red Cat Holdings Inc (RCAT) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Mar 31, 2024 indicates that Vanguard Total Stock Market Index Fund owns about 849.14 shares. This amounts to just over 2.97 percent of the company’s overall shares, with a $1.95 million market value. The same data shows that the other fund manager holds slightly less at 403.29, or about 1.41% of the stock, which is worth about $0.93 million.
