Red Cat Holdings, Inc. (NASDAQ:RCAT) Insider Sells $2,853,903.22 in Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 287,113 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $9.94, for a total value of $2,853,903.22. Following the completion of the transaction, the insider now directly owns 685,990 shares of the company’s stock, valued at approximately $6,818,740.60. This trade represents a 29.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

George Michael Matus also recently made the following trade(s):

• On Wednesday, December 18th, George Michael Matus sold 112,686 shares of Red Cat stock. The shares were sold at an average price of $9.20, for a total transaction of $1,036,711.20.

Red Cat Trading Up 2.6 %

NASDAQ:RCAT traded up $0.28 during trading hours on Monday, reaching $11.03. The company had a trading volume of 21,467,318 shares, compared to its average volume of 2,101,563. The firm’s 50 day moving average price is $5.91 and its 200-day moving average price is $3.51. The firm has a market cap of $884.18 million, a price-to-earnings ratio of -23.98 and a beta of 1.33. Red Cat Holdings, Inc. has a 52 week low of $0.56 and a 52 week high of $13.89.

Red Cat (NASDAQ:RCAT) last announced 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 66.19% and a negative net margin of 162.50%. During the same period in the previous year, the firm earned ($0.11) earnings per share. On average, analysts forecast that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Cat

Several hedge funds and other institutional investors have recently modified their holdings of RCAT. Sanctuary Advisors LLC bought a new stake in Red Cat during the third quarter valued at about $25,000. Sheets Smith Wealth Management bought a new position in shares of Red Cat during the 3rd quarter valued at approximately $51,000. PVG Asset Management Corp purchased a new stake in Red Cat in the 2nd quarter worth approximately $63,000. XTX Topco Ltd raised its stake in Red Cat by 390.9% during the 2nd 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 period. Finally, United Capital Management of KS Inc. purchased a new position in Red Cat during the third quarter valued at approximately $108,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

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.