Red Cat (NASDAQ:RCAT) Stock Price Up 1.4% – Here’s Why

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s share price rose 1.4% during mid-day trading on Wednesday . The company traded as high as $9.44 and last traded at $8.58. Approximately 5,169,732 shares were traded during trading, a decline of 51% from the average daily volume of 10,489,961 shares. The stock had previously closed at $8.46.

Red Cat Price Performance

The firm has a market capitalization of $702.76 million, a price-to-earnings ratio of -16.17 and a beta of 1.32. The stock’s 50-day moving average price is $9.52 and its 200 day moving average price is $5.12. 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 (NASDAQ:RCAT) last released its 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 96.00% and a negative net margin of 232.62%. During the same quarter in the previous year, the business earned ($0.11) earnings per share. Equities research analysts expect that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Insider Transactions at Red Cat

In other news, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of Red Cat stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $8.29, for a total transaction of $2,726,813.12. Following the sale, the director now owns 681,072 shares of the company’s stock, valued at approximately $5,646,086.88. The trade was a 32.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $10.44, for a total value of $1,188,312.12. Following the completion of the sale, the executive now directly owns 558,325 shares in the company, valued at approximately $5,828,913. The trade was a 16.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,930,441 shares of company stock worth $21,099,751 in the last 90 days. Insiders own 21.50% of the company’s stock.

Institutional Trading of Red Cat

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Regency Capital Management Inc. DE purchased a new stake in Red Cat in the fourth quarter valued at approximately $130,000. Myecfo LLC purchased a new stake in Red Cat in the fourth quarter valued at approximately $193,000. Kieckhefer Group LLC purchased a new stake in Red Cat in the fourth quarter valued at approximately $296,000. Sanctuary Advisors LLC purchased a new stake in shares of Red Cat during the third quarter worth $25,000. Finally, Wolverine Trading LLC purchased a new stake in shares of Red Cat during the third quarter worth $233,000. Hedge funds and other 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.