Insider Selling: Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Sells 50,000 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Joseph David Freedman sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the transaction, the director now owns 635,190 shares of the company’s stock, valued at $6,351,900. The trade was a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Red Cat Stock Performance

Shares of NASDAQ:RCAT opened at $10.75 on Friday. The company has a fifty day moving average of $5.91 and a 200-day moving average of $3.48. Red Cat Holdings, Inc. has a 52-week low of $0.56 and a 52-week high of $12.57. The company has a market capitalization of $811.25 million, a PE ratio of -23.37 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last released its quarterly 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 quarter in the prior year, the business posted ($0.11) EPS. On average, equities analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Cat

Institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new stake in Red Cat in the 3rd quarter valued at about $25,000. Sheets Smith Wealth Management purchased a new stake in shares of Red Cat during the 3rd quarter valued at approximately $51,000. PVG Asset Management Corp purchased a new position in shares of Red Cat in the second quarter valued at $63,000. XTX Topco Ltd increased its position in shares of Red Cat by 390.9% during the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after buying an additional 46,897 shares during the period. Finally, United Capital Management of KS Inc. bought a new position in Red Cat in the 3rd quarter valued at $108,000. 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.