George Michael Matus Sells 112,686 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 112,686 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $9.20, for a total transaction of $1,036,711.20. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Red Cat Price Performance

Shares of Red Cat stock opened at $10.75 on Friday. The business has a 50-day simple moving average of $5.91 and a 200 day simple moving average of $3.48. The firm has a market capitalization of $861.73 million, a price-to-earnings ratio of -23.37 and a beta of 1.33. Red Cat Holdings, Inc. has a one year low of $0.56 and a one year high of $12.57.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings results on Monday, December 16th. The company reported ($0.18) earnings per share (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 quarter last year, the company posted ($0.11) earnings per share. On average, sell-side analysts expect that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Institutional Investors Weigh In On Red Cat

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in Red Cat during the 2nd quarter valued at about $267,000. XTX Topco Ltd boosted its position in shares of Red Cat by 390.9% during the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after buying an additional 46,897 shares during the last quarter. PVG Asset Management Corp bought a new stake in Red Cat during the second quarter worth $63,000. Sheets Smith Wealth Management bought a new stake in Red Cat during the third quarter worth $51,000. Finally, United Capital Management of KS Inc. purchased a new stake in Red Cat in the 3rd quarter valued at $108,000. 37.97% of the stock is owned by institutional investors.

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.