Insider Selling: Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Sells 392,551 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson sold 392,551 shares of Red Cat stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $11.34, for a total transaction of $4,451,528.34. Following the transaction, the chief executive officer now directly owns 13,121,898 shares of the company’s stock, valued at $148,802,323.32. This represents a 2.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Red Cat Trading Down 8.6 %

Shares of Red Cat stock opened at $12.26 on Friday. The business has a 50-day moving average price of $6.79 and a two-hundred day moving average price of $3.88. Red Cat Holdings, Inc. has a 1-year low of $0.56 and a 1-year high of $14.91. The company has a market cap of $982.77 million, a P/E ratio of -26.65 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last released its earnings results on Monday, December 16th. The company reported ($0.18) 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 period last year, the firm posted ($0.11) EPS. Equities research analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

Institutional Trading of Red Cat

Several hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in Red Cat in the third quarter worth $25,000. Sheets Smith Wealth Management acquired a new position in shares of Red Cat during the third quarter valued at about $51,000. PVG Asset Management Corp bought a new position in shares of Red Cat during the 2nd quarter worth about $63,000. XTX Topco Ltd grew its stake in shares of Red Cat by 390.9% in the 2nd 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 stake in Red Cat in the 3rd quarter valued at about $108,000. Institutional investors 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.