Insider Selling: Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Sells $213,600.00 in Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Joseph David Freedman sold 15,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $14.24, for a total transaction of $213,600.00. Following the sale, the director now directly owns 585,190 shares of the company’s stock, valued at $8,333,105.60. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Joseph David Freedman also recently made the following trade(s):

• On Friday, December 20th, Joseph David Freedman sold 50,000 shares of Red Cat stock. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00.

Red Cat Stock Performance

Red Cat stock opened at $12.85 on Thursday. The company has a 50 day moving average price of $7.21 and a 200 day moving average price of $4.08. Red Cat Holdings, Inc. has a 52 week low of $0.56 and a 52 week high of $14.91. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -27.93 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last issued its earnings results on Monday, December 16th. The company reported ($0.18) 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 period last year, the firm posted ($0.11) earnings per share. Equities analysts forecast that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Red Cat

Large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new stake in shares of Red Cat during the third quarter worth approximately $25,000. Sheets Smith Wealth Management acquired a new stake in shares of Red Cat during the 3rd quarter valued at $51,000. PVG Asset Management Corp purchased a new position in shares of Red Cat during the 2nd quarter valued at $63,000. XTX Topco Ltd increased its stake in shares of Red Cat by 390.9% in the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after acquiring an additional 46,897 shares during the last quarter. Finally, United Capital Management of KS Inc. acquired a new stake in Red Cat during the third quarter valued at $108,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

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.