Red Cat (NASDAQ:RCAT) Trading Up 0% – What’s Next?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) shot up 0% on Wednesday . The company traded as high as $9.87 and last traded at $9.26. 4,996,983 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 10,422,772 shares. The stock had previously closed at $9.26.

Red Cat Stock Performance

The company has a market cap of $704.62 million, a PE ratio of -16.28 and a beta of 1.32. The company has a 50-day moving average of $10.02 and a 200-day moving average of $5.42. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30.

Red Cat (NASDAQ:RCAT) last posted 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 96.00% and a negative net margin of 232.62%. During the same quarter in the prior year, the business posted ($0.11) earnings per share. As a group, analysts anticipate that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Insider Buying and Selling at Red Cat

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

Institutional Investors Weigh In On Red Cat

A number of hedge funds have recently modified their holdings of the stock. Gladstone Institutional Advisory LLC grew its holdings in Red Cat by 34.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company’s stock valued at $172,000 after purchasing an additional 3,400 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Red Cat during the 3rd quarter worth $25,000. Regency Capital Management Inc. DE purchased a new stake in Red Cat in the 4th quarter worth about $130,000. Atria Wealth Solutions Inc. bought a new stake in Red Cat in the 4th quarter valued at about $134,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in Red Cat during the fourth quarter valued at about $139,000. Institutional investors 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.