Red Cat (NASDAQ:RCAT) Stock Price Down 3.9% – Here’s What Happened

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) traded down 3.9% during mid-day trading on Monday . The company traded as low as $7.82 and last traded at $8.45. 3,619,034 shares were traded during trading, a decline of 64% from the average session volume of 9,988,533 shares. The stock had previously closed at $8.79.

Red Cat Price Performance

The stock has a market cap of $785.57 million, a price-to-earnings ratio of -18.15 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43. The company has a 50-day simple moving average of $10.04 and a two-hundred day simple moving average of $5.63.

Red Cat (NASDAQ:RCAT) last issued its earnings results on Monday, December 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.27). Red Cat had a negative net margin of 232.62% and a negative return on equity of 96.00%. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. As a group, equities research analysts forecast that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.

Insider Activity at Red Cat

In other news, CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the business’s stock in a transaction on Friday, December 20th. The stock was 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 owns 558,325 shares of the company’s stock, valued at approximately $5,828,913. The trade was a 16.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider George Michael Matus sold 112,686 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $9.20, for a total value of $1,036,711.20. Following the completion of the sale, the insider now directly owns 973,103 shares in the company, valued at $8,952,547.60. This trade represents a 10.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,930,441 shares of company stock worth $21,099,751. Company insiders own 21.50% of the company’s stock.

Hedge Funds Weigh In On Red Cat

Large investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in shares of Red Cat in the third quarter worth $25,000. Sheets Smith Wealth Management bought a new position in shares of Red Cat during the third quarter worth about $51,000. United Capital Management of KS Inc. acquired a new position in shares of Red Cat in the third quarter worth approximately $108,000. Regency Capital Management Inc. DE bought a new stake in Red Cat in the fourth quarter valued at approximately $130,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in Red Cat during the 4th quarter valued at approximately $134,000. 37.97% of the stock is currently owned by institutional investors.

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.