Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Sells $500,000.00 in Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Joseph David Freedman sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the transaction, the director now directly owns 635,190 shares in the company, valued at approximately $6,351,900. This represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Red Cat Trading Up 18.3 %

RCAT stock opened at $10.75 on Monday. The firm has a 50-day moving average of $5.91 and a two-hundred day moving average of $3.49. Red Cat Holdings, Inc. has a 12 month low of $0.56 and a 12 month high of $12.57. The company has a market cap of $861.73 million, a price-to-earnings ratio of -23.37 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last posted its quarterly 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 net margin of 162.50% and a negative return on equity of 66.19%. During the same period last year, the firm posted ($0.11) earnings per share. As a group, equities analysts forecast that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RCAT. Centiva Capital LP purchased a new stake in shares of Red Cat in the third quarter valued at about $207,000. Wolverine Trading LLC acquired a new position in Red Cat in the 3rd quarter valued at about $233,000. Corsair Capital Management L.P. purchased a new stake in shares of Red Cat in the 3rd quarter valued at approximately $308,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Red Cat during the 3rd quarter worth approximately $138,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Red Cat during the 2nd quarter valued at approximately $267,000. 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.