N.E.W. Advisory Services LLC Acquires Shares of 32,913 Red Cat Holdings, Inc. (NASDAQ:RCAT)

N.E.W. Advisory Services LLC bought a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 32,913 shares of the company’s stock, valued at approximately $423,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new stake in Red Cat during the 3rd quarter worth approximately $25,000. Regency Capital Management Inc. DE purchased a new position in shares of Red Cat in the fourth quarter valued at approximately $130,000. Myecfo LLC acquired a new stake in shares of Red Cat in the fourth quarter worth approximately $193,000. Sheets Smith Wealth Management purchased a new stake in shares of Red Cat during the third quarter worth approximately $51,000. Finally, Kieckhefer Group LLC acquired a new position in Red Cat in the 4th quarter valued at $296,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Red Cat Stock Performance

Red Cat stock opened at $8.79 on Friday. The company has a fifty day simple moving average of $10.02 and a 200-day simple moving average of $5.47. 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 Holdings, Inc. has a 52-week low of $0.56 and a 52-week high of $15.27.

Red Cat (NASDAQ:RCAT) last released 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 last year, the company posted ($0.11) earnings per share. As a group, sell-side analysts predict that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.

Insider Buying and Selling

In other news, insider George Michael Matus sold 309,491 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 304,406 shares of the company’s stock, valued at $4,343,873.62. This represents a 50.41 % decrease in their position. The transaction was disclosed in a filing 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 that occurred on Monday, December 23rd. The shares were sold at an average price of $11.34, for a total transaction of $4,451,528.34. Following the sale, the chief executive officer now directly owns 13,121,898 shares in the company, valued at approximately $148,802,323.32. The trade was a 2.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,930,441 shares of company stock worth $21,099,751. 21.50% of the stock is owned by corporate insiders.

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.