Red Cat (NASDAQ:RCAT) Trading 0% Higher – Time to Buy?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) traded up 0% during trading on Wednesday . The company traded as high as $9.87 and last traded at $9.26. 4,996,983 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 10,422,772 shares. The stock had previously closed at $9.26.

Red Cat Stock Performance

The company has a market capitalization of $757.51 million, a price-to-earnings ratio of -17.57 and a beta of 1.32. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $9.93 and a 200 day simple moving average of $5.37.

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 period last year, the company earned ($0.11) earnings per share. As a group, analysts anticipate that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Red Cat news, insider George Michael Matus sold 112,686 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $9.20, for a total value of $1,036,711.20. Following the transaction, the insider now owns 973,103 shares of the company’s stock, valued at approximately $8,952,547.60. This represents a 10.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph David Freedman sold 15,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were 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 in the company, valued at $8,333,105.60. This represents a 2.50 % 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 over the last ninety days. Company insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in Red Cat during the 3rd quarter valued at $25,000. Regency Capital Management Inc. DE acquired a new stake in Red Cat during the 4th quarter valued at $130,000. U.S. Capital Wealth Advisors LLC acquired a new stake in Red Cat during the 4th quarter valued at $139,000. Gladstone Institutional Advisory LLC raised its stake in Red Cat by 34.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company’s stock valued at $172,000 after purchasing an additional 3,400 shares during the period. Finally, Myecfo LLC acquired a new stake in Red Cat during the 4th quarter valued at $193,000. 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.