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 stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the transaction, the director now owns 635,190 shares of the company’s stock, valued at approximately $6,351,900. The trade was a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Red Cat Price Performance

RCAT stock traded up $1.66 during mid-day trading on Friday, reaching $10.75. The company had a trading volume of 22,959,006 shares, compared to its average volume of 2,022,484. The stock has a 50 day simple moving average of $5.91 and a two-hundred day simple moving average of $3.48. The company has a market capitalization of $811.25 million, a price-to-earnings ratio of -23.37 and a beta of 1.33. Red Cat Holdings, Inc. has a 52 week low of $0.56 and a 52 week high of $12.57.

Red Cat (NASDAQ:RCAT) last posted 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 net margin of 162.50% and a negative return on equity of 66.19%. During the same period in the prior year, the company earned ($0.11) earnings per share. On average, equities analysts predict that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Red Cat in the third quarter valued at approximately $25,000. Sheets Smith Wealth Management acquired a new stake in shares of Red Cat in the third quarter valued at approximately $51,000. United Capital Management of KS Inc. acquired a new stake in shares of Red Cat in the third quarter valued at approximately $108,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Red Cat in the third quarter valued at approximately $138,000. Finally, PVG Asset Management Corp acquired a new stake in shares of Red Cat in the second quarter valued at approximately $63,000. 37.97% of the stock is currently 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.