Insider Selling: Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Sells 28,756 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson sold 28,756 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $13.97, for a total value of $401,721.32. Following the completion of the transaction, the chief executive officer now owns 13,014,449 shares of the company’s stock, valued at $181,811,852.53. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Red Cat Price Performance

Shares of RCAT traded up $1.52 on Thursday, hitting $13.41. The company’s stock had a trading volume of 20,218,289 shares, compared to its average volume of 2,205,958. The company has a market capitalization of $1.07 billion, a PE ratio of -29.15 and a beta of 1.33. Red Cat Holdings, Inc. has a fifty-two week low of $0.56 and a fifty-two week high of $14.91. The company has a 50 day moving average price of $6.40 and a 200 day moving average price of $3.72.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Monday, December 16th. The company reported ($0.18) earnings per share (EPS) 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 quarter last year, the firm posted ($0.11) EPS. On average, equities analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Red Cat

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