Insider Selling: Red Cat Holdings, Inc. (NASDAQ:RCAT) Insider Sells 112,686 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 112,686 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $9.20, for a total value of $1,036,711.20. Following the completion of the sale, the insider now directly owns 973,103 shares in the company, valued at $8,952,547.60. This trade represents a 10.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Red Cat Stock Performance

Shares of RCAT traded up $1.66 during trading hours on Friday, hitting $10.75. The company had a trading volume of 22,959,006 shares, compared to its average volume of 2,022,484. The stock has a market capitalization of $811.25 million, a price-to-earnings ratio of -23.37 and a beta of 1.33. The firm has a fifty day moving average price of $5.91 and a 200-day moving average price of $3.48. Red Cat Holdings, Inc. has a 52-week low of $0.56 and a 52-week high of $12.57.

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

Hedge Funds Weigh In On Red Cat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new position in shares of Red Cat during the third quarter valued at $25,000. Sheets Smith Wealth Management bought a new stake in Red Cat in the 3rd quarter worth about $51,000. United Capital Management of KS Inc. purchased a new position in Red Cat in the 3rd quarter worth about $108,000. XTX Topco Ltd lifted its stake in Red Cat by 390.9% during the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after acquiring an additional 46,897 shares during the period. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Red Cat during the 3rd quarter valued at about $138,000. 37.97% of the stock is owned by 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.