George Michael Matus Sells 112,686 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 112,686 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $9.20, for a total value of $1,036,711.20. Following the completion of the transaction, the insider now owns 973,103 shares in the company, valued at $8,952,547.60. The trade was a 10.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Red Cat Trading Up 18.3 %

Shares of Red Cat stock opened at $10.75 on Friday. The firm has a market capitalization of $861.73 million, a P/E ratio of -23.37 and a beta of 1.33. The business’s fifty day simple moving average is $5.91 and its 200 day simple moving average is $3.48. Red Cat Holdings, Inc. has a 12 month low of $0.56 and a 12 month high of $12.57.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RCAT. Renaissance Technologies LLC purchased a new position in Red Cat in the second quarter valued at approximately $267,000. State Street Corp raised its stake in shares of Red Cat by 44.9% in the third quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after buying an additional 68,800 shares during the period. Corsair Capital Management L.P. bought a new stake in shares of Red Cat in the third quarter valued at $308,000. Wolverine Trading LLC purchased a new position in shares of Red Cat during the 3rd quarter valued at $233,000. Finally, Centiva Capital LP bought a new position in shares of Red Cat during the 3rd quarter worth $207,000. 37.97% of the stock is owned by institutional investors.

About Red Cat

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.