Red Cat (NASDAQ:RCAT) Stock Price Down 7.3% – What’s Next?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) fell 7.3% on Friday . The stock traded as low as $10.60 and last traded at $10.97. 3,781,421 shares were traded during trading, a decline of 64% from the average session volume of 10,397,875 shares. The stock had previously closed at $11.83.

Red Cat Trading Down 15.2 %

The business has a 50-day moving average price of $8.71 and a 200-day moving average price of $4.69. The stock has a market cap of $804.01 million, a PE ratio of -21.80 and a beta of 1.32.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings data 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 net margin of 162.50% and a negative return on equity of 66.19%. During the same quarter in the previous year, the company earned ($0.11) EPS. Equities analysts expect that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Red Cat

In other news, Director Joseph David Freedman sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $14.24, for a total transaction of $213,600.00. Following the transaction, the director now directly owns 585,190 shares in the company, valued at $8,333,105.60. The trade was a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $8.29, for a total value of $2,726,813.12. Following the completion of the sale, the director now directly owns 681,072 shares of the company’s stock, valued at approximately $5,646,086.88. This represents a 32.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,930,441 shares of company stock valued at $21,099,751 over the last quarter. 21.50% of the stock is currently owned by insiders.

Institutional Trading of Red Cat

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in Red Cat during the second quarter worth about $267,000. Corsair Capital Management L.P. acquired a new stake in shares of Red Cat during the 3rd quarter worth approximately $308,000. Wolverine Trading LLC purchased a new stake in shares of Red Cat during the 3rd quarter valued at approximately $233,000. Centiva Capital LP acquired a new position in Red Cat in the third quarter valued at approximately $207,000. Finally, State Street Corp grew its position in Red Cat by 44.9% in 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 during the period. 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.