Insider Selling: Red Cat Holdings, Inc. (NASDAQ:RCAT) Insider Sells 287,113 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 287,113 shares of Red Cat stock in a transaction on Friday, December 20th. The shares were sold at an average price of $9.94, for a total value of $2,853,903.22. Following the completion of the sale, the insider now directly owns 685,990 shares of the company’s stock, valued at $6,818,740.60. The trade was a 29.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

George Michael Matus also recently made the following trade(s):

• On Wednesday, December 18th, George Michael Matus sold 112,686 shares of Red Cat stock. The shares were sold at an average price of $9.20, for a total value of $1,036,711.20.

Red Cat Stock Performance

Shares of RCAT opened at $11.89 on Wednesday. The company’s 50-day simple moving average is $6.22 and its 200-day simple moving average is $3.66. Red Cat Holdings, Inc. has a 1 year low of $0.56 and a 1 year high of $13.89. The stock has a market capitalization of $953.11 million, a PE ratio of -25.85 and a beta of 1.33.

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 quarter last year, the business earned ($0.11) EPS. On average, sell-side analysts predict that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RCAT. Renaissance Technologies LLC acquired a new stake in Red Cat in the 2nd quarter valued at about $267,000. XTX Topco Ltd increased its stake 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 worth $68,000 after buying an additional 46,897 shares during the period. PVG Asset Management Corp acquired a new stake in Red Cat in the second quarter valued at approximately $63,000. Sheets Smith Wealth Management purchased a new position in Red Cat in the third quarter worth approximately $51,000. Finally, United Capital Management of KS Inc. acquired a new position in Red Cat during the 3rd quarter worth approximately $108,000. 37.97% of the stock is owned by institutional investors and hedge funds.

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.