Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Joseph David Freedman Sells 50,000 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Joseph David Freedman sold 50,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the sale, the director now owns 635,190 shares in the company, valued at $6,351,900. The trade was a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Red Cat Stock Performance

Red Cat stock opened at $10.75 on Friday. Red Cat Holdings, Inc. has a 1 year low of $0.56 and a 1 year high of $12.57. The firm has a market cap of $811.25 million, a price-to-earnings ratio of -23.37 and a beta of 1.33. The firm’s 50 day moving average price is $5.91 and its two-hundred day moving average price is $3.48.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data 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 net margin of 162.50% and a negative return on equity of 66.19%. During the same period in the prior year, the company earned ($0.11) earnings per share. As a group, equities analysts predict that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Cat

Hedge funds have recently added to or reduced their stakes in the stock. Centiva Capital LP acquired a new stake in shares of Red Cat in the 3rd quarter valued at approximately $207,000. Wolverine Trading LLC bought a new stake in shares of Red Cat in the third quarter worth $233,000. Corsair Capital Management L.P. acquired a new stake in shares of Red Cat in the third quarter valued at about $308,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Red Cat during the 3rd quarter worth approximately $138,000. Finally, Renaissance Technologies LLC acquired a new stake in Red Cat in the second quarter valued at $267,000. 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.