Red Cat Holdings, Inc. (NASDAQ:RCAT) Insider Sells $1,036,711.20 in Stock

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

Red Cat Stock Performance

Shares of NASDAQ RCAT traded up $1.66 during midday trading on Friday, hitting $10.75. 22,959,006 shares of the company traded hands, compared to its average volume of 2,022,484. Red Cat Holdings, Inc. has a 12-month low of $0.56 and a 12-month high of $12.57. The firm has a market cap of $811.25 million, a P/E ratio of -23.37 and a beta of 1.33. The stock has a 50-day moving average price of $5.91 and a 200 day moving average price of $3.48.

Red Cat (NASDAQ:RCAT) last posted its earnings results on Monday, December 16th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates 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 in the previous year, the company posted ($0.11) EPS. As a group, equities analysts expect that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Institutional Investors Weigh In On Red Cat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCAT. Sanctuary Advisors LLC purchased a new position in Red Cat during the third quarter valued at $25,000. Wolverine Trading LLC purchased a new position in Red Cat during the 3rd quarter valued at about $233,000. State Street Corp boosted its stake in Red Cat by 44.9% during the third quarter. State Street Corp now owns 221,958 shares of the company’s stock worth $564,000 after acquiring an additional 68,800 shares in the last quarter. Centiva Capital LP purchased a new stake in Red Cat in the third quarter worth about $207,000. Finally, Corsair Capital Management L.P. purchased a new stake in Red Cat in the third quarter worth about $308,000. 37.97% of the stock is owned by hedge funds and other institutional investors.

About Red Cat

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.