George Michael Matus Sells 309,491 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 309,491 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $14.27, for a total value of $4,416,436.57. Following the transaction, the insider now directly owns 304,406 shares in the company, valued at approximately $4,343,873.62. The trade was a 50.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, December 24th, George Michael Matus sold 72,093 shares of Red Cat stock. The shares were sold at an average price of $12.10, for a total transaction of $872,325.30.
• On Friday, December 20th, George Michael Matus sold 287,113 shares of Red Cat stock. The stock was sold at an average price of $9.94, for a total value of $2,853,903.22.
• 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 Stock Performance

Shares of Red Cat stock opened at $12.26 on Friday. The stock’s fifty day moving average is $6.79 and its 200 day moving average is $3.88. Red Cat Holdings, Inc. has a one year low of $0.56 and a one year high of $14.91. The stock has a market cap of $982.77 million, a P/E ratio of -26.65 and a beta of 1.33.

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

Hedge Funds Weigh In On Red Cat

A number of hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new position in shares of Red Cat during the 3rd quarter valued at $25,000. Sheets Smith Wealth Management purchased a new position in shares of Red Cat in the third quarter valued at about $51,000. United Capital Management of KS Inc. bought a new position in shares of Red Cat in the third quarter worth about $108,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Red Cat during the third quarter worth about $138,000. Finally, PVG Asset Management Corp bought a new stake in Red Cat during the 2nd quarter valued at approximately $63,000. 37.97% of the stock is currently owned by 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.