Cable Hill Partners LLC Makes New $257,000 Investment in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Cable Hill Partners LLC bought a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the fourth quarter, HoldingsChannel.com reports. The firm bought 20,000 shares of the company’s stock, valued at approximately $257,000.

Other institutional investors also recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in Red Cat during the third quarter worth $25,000. Regency Capital Management Inc. DE purchased a new stake in Red Cat during the fourth quarter worth $130,000. Atria Wealth Solutions Inc. purchased a new stake in Red Cat during the fourth quarter worth $134,000. U.S. Capital Wealth Advisors LLC purchased a new stake in Red Cat during the fourth quarter worth $139,000. Finally, Gladstone Institutional Advisory LLC boosted its position in Red Cat by 34.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company’s stock worth $172,000 after purchasing an additional 3,400 shares in the last quarter. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Red Cat

In other news, Director Joseph David Freedman sold 15,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $14.24, for a total value of $213,600.00. Following the completion of the transaction, the director now directly owns 585,190 shares of the company’s stock, valued at $8,333,105.60. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey M. Thompson sold 392,551 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $11.34, for a total value of $4,451,528.34. Following the completion of the transaction, the chief executive officer now directly owns 13,121,898 shares of the company’s stock, valued at approximately $148,802,323.32. This trade represents a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,930,441 shares of company stock valued at $21,099,751 over the last three months. 21.50% of the stock is currently owned by insiders.

Red Cat Stock Performance

NASDAQ RCAT opened at $6.78 on Thursday. Red Cat Holdings, Inc. has a fifty-two week low of $0.70 and a fifty-two week high of $15.27. The stock has a market cap of $543.49 million, a price-to-earnings ratio of -12.56 and a beta of 1.24. The business has a fifty day moving average of $10.05 and a 200-day moving average of $6.37. 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 quarterly 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 period last year, the firm earned ($0.11) earnings per share. As a group, analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

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.