Red Cat Holdings, Inc. (NASDAQ:RCAT) Insider Sells $4,416,436.57 in Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 309,491 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $14.27, for a total value of $4,416,436.57. Following the completion of the sale, the insider now directly owns 304,406 shares of the company’s stock, valued at approximately $4,343,873.62. This represents a 50.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

George Michael Matus also recently made the following trade(s):

• On Tuesday, December 24th, George Michael Matus sold 72,093 shares of Red Cat stock. The stock was sold at an average price of $12.10, for a total transaction of $872,325.30.
• On Friday, December 20th, George Michael Matus sold 287,113 shares of Red Cat stock. The shares were sold at an average price of $9.94, for a total transaction of $2,853,903.22.
• On Wednesday, December 18th, George Michael Matus sold 112,686 shares of Red Cat stock. The stock was sold at an average price of $9.20, for a total transaction of $1,036,711.20.

Red Cat Price Performance

NASDAQ:RCAT traded down $1.15 during midday trading on Friday, reaching $12.26. 15,418,233 shares of the company traded hands, compared to its average volume of 2,259,390. Red Cat Holdings, Inc. has a twelve month low of $0.56 and a twelve month high of $14.91. The company has a fifty day moving average price of $6.60 and a 200 day moving average price of $3.78. The firm has a market capitalization of $982.77 million, a price-to-earnings ratio of -26.65 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Monday, December 16th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.27). Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. During the same quarter in the prior year, the company earned ($0.11) earnings per share. On average, equities research analysts forecast that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in shares of Red Cat during the 3rd quarter worth about $25,000. Sheets Smith Wealth Management acquired a new stake in Red Cat in the third quarter worth approximately $51,000. PVG Asset Management Corp acquired a new position in shares of Red Cat during the 2nd quarter valued at $63,000. XTX Topco Ltd raised its stake in shares of Red Cat by 390.9% in the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after buying an additional 46,897 shares in the last quarter. Finally, United Capital Management of KS Inc. acquired a new stake in shares of Red Cat in the third quarter valued at $108,000. 37.97% of the stock is owned by institutional investors and hedge funds.

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.