George Michael Matus Sells 309,491 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 309,491 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $14.27, for a total value of $4,416,436.57. Following the sale, the insider now owns 304,406 shares of the company’s stock, valued at $4,343,873.62. This trade represents a 50.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

George Michael Matus also recently made the following trade(s):

• On Tuesday, December 24th, George Michael Matus sold 72,093 shares of Red Cat stock. The shares were sold at an average price of $12.10, for a total value of $872,325.30.
• On Friday, December 20th, George Michael Matus sold 287,113 shares of Red Cat stock. The shares were sold at an average price of $9.94, for a total transaction of $2,853,903.22.
• On Wednesday, December 18th, George Michael Matus sold 112,686 shares of Red Cat stock. The stock was sold at an average price of $9.20, for a total transaction of $1,036,711.20.

Red Cat Stock Down 8.6 %

Shares of RCAT opened at $12.26 on Monday. The company has a 50 day moving average of $6.79 and a two-hundred day moving average of $3.90. The company has a market cap of $982.77 million, a price-to-earnings ratio of -26.65 and a beta of 1.33. Red Cat Holdings, Inc. has a twelve month low of $0.56 and a twelve month 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 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 in the previous year, the company earned ($0.11) EPS. On average, sell-side analysts expect that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Red Cat

Several hedge funds have recently modified their holdings of RCAT. Renaissance Technologies LLC acquired a new stake in Red Cat in the 2nd quarter worth approximately $267,000. XTX Topco Ltd raised its holdings in shares of Red Cat by 390.9% in 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. PVG Asset Management Corp acquired a new stake in shares of Red Cat during the second quarter worth $63,000. Sheets Smith Wealth Management purchased a new stake in shares of Red Cat during the third quarter valued at $51,000. Finally, United Capital Management of KS Inc. acquired a new position in shares of Red Cat in the 3rd quarter valued at $108,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

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.