Jeffrey M. Thompson Sells 28,756 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson sold 28,756 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $13.97, for a total transaction of $401,721.32. Following the transaction, the chief executive officer now owns 13,014,449 shares in the company, valued at $181,811,852.53. This represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Red Cat Stock Up 12.8 %

NASDAQ RCAT traded up $1.52 on Thursday, reaching $13.41. 20,218,289 shares of the stock traded hands, compared to its average volume of 2,205,958. Red Cat Holdings, Inc. has a 12 month low of $0.56 and a 12 month high of $14.91. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -29.15 and a beta of 1.33. The firm’s fifty day simple moving average is $6.40 and its 200 day simple moving average is $3.72.

Red Cat (NASDAQ:RCAT) last released 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 return on equity of 66.19% and a negative net margin of 162.50%. During the same period last year, the business earned ($0.11) EPS. As a group, equities research analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Cat

Several hedge funds have recently bought and sold shares of RCAT. Renaissance Technologies LLC purchased a new stake in shares of Red Cat during the second quarter worth $267,000. Corsair Capital Management L.P. purchased a new stake in shares of Red Cat during the 3rd quarter worth about $308,000. Wolverine Trading LLC acquired a new stake in shares of Red Cat during the 3rd quarter valued at about $233,000. Centiva Capital LP acquired a new stake in Red Cat in the third quarter valued at approximately $207,000. Finally, State Street Corp boosted its holdings in Red Cat by 44.9% in the third quarter. State Street Corp now owns 221,958 shares of the company’s stock worth $564,000 after purchasing an additional 68,800 shares in the last quarter. 37.97% of the stock is owned by hedge funds and other 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.