Red Cat Holdings, Inc. (NASDAQ:RCAT) CRO Geoffrey Wayne Hitchcock Sells 113,823 Shares

Red Cat Holdings, Inc. (NASDAQ:RCAT) CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the firm’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 transaction of $1,188,312.12. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Red Cat Stock Up 12.8 %

NASDAQ RCAT traded up $1.52 during trading on Thursday, reaching $13.41. 20,218,289 shares of the stock traded hands, compared to its average volume of 2,205,958. The stock’s 50-day moving average price is $6.40 and its 200 day moving average price is $3.72. The firm has a market cap of $1.07 billion, a price-to-earnings 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.

Red Cat (NASDAQ:RCAT) last announced 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 66.19% and a negative net margin of 162.50%. During the same quarter last year, the business earned ($0.11) earnings per share. Analysts anticipate that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Centiva Capital LP bought a new position in shares of Red Cat in the third quarter valued at $207,000. Wolverine Trading LLC bought a new position in Red Cat during the 3rd quarter worth $233,000. Corsair Capital Management L.P. bought a new stake in Red Cat in the 3rd quarter valued at about $308,000. Pekin Hardy Strauss Inc. acquired a new stake in Red Cat during the third quarter worth approximately $138,000. Finally, Renaissance Technologies LLC bought a new position in shares of Red Cat in the second quarter worth $267,000. 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.