Red Cat (NASDAQ:RCAT) Stock Price Down 8.6% – Time to Sell?

Red Cat Holdings, Inc. (NASDAQ:RCAT) shares traded down 8.6% during trading on Monday . The company traded as low as $7.08 and last traded at $7.09. 2,515,862 shares changed hands during trading, a decline of 72% from the average session volume of 8,867,720 shares. The stock had previously closed at $7.76.

Red Cat Trading Down 5.1 %

The company has a market capitalization of $590.38 million, a price-to-earnings ratio of -13.60 and a beta of 1.24. The business’s 50 day moving average price is $10.21 and its two-hundred day moving average price is $6.30. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings data on Monday, December 16th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.27). Red Cat had a negative net margin of 232.62% and a negative return on equity of 96.00%. During the same quarter in the previous year, the business earned ($0.11) EPS. Equities analysts forecast that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Insider Activity

In other Red Cat news, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $8.29, for a total value of $2,726,813.12. Following the transaction, the director now directly owns 681,072 shares of the company’s stock, valued at $5,646,086.88. This represents a 32.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey M. Thompson sold 392,551 shares of Red Cat stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $11.34, for a total value of $4,451,528.34. Following the sale, the chief executive officer now owns 13,121,898 shares of the company’s stock, valued at approximately $148,802,323.32. This represents a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,930,441 shares of company stock worth $21,099,751 in the last 90 days. Company insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Waddell & Associates LLC bought a new stake in Red Cat in the fourth quarter worth $159,643,000. Vanguard Group Inc. lifted its position in shares of Red Cat by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company’s stock worth $32,197,000 after buying an additional 207,727 shares during the last quarter. Apis Capital Advisors LLC boosted its stake in shares of Red Cat by 61.7% during the 4th quarter. Apis Capital Advisors LLC now owns 650,000 shares of the company’s stock worth $8,352,000 after acquiring an additional 248,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Red Cat by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 602,596 shares of the company’s stock valued at $7,747,000 after acquiring an additional 10,594 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in Red Cat during the fourth quarter worth approximately $6,628,000. 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.