Red Cat (NASDAQ:RCAT) Stock Price Down 3.6% – What’s Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT) shares traded down 3.6% on Thursday . The company traded as low as $8.39 and last traded at $8.43. 5,155,982 shares changed hands during trading, a decline of 51% from the average session volume of 10,620,210 shares. The stock had previously closed at $8.75.

Red Cat Price Performance

The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $691.78 million, a PE ratio of -15.98 and a beta of 1.32. The company’s 50 day moving average is $9.78 and its 200-day moving average is $5.22.

Red Cat (NASDAQ:RCAT) last announced 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 96.00% and a negative net margin of 232.62%. During the same period in the previous year, the business earned ($0.11) EPS. As a group, sell-side analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of Red Cat stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $8.29, for a total value of $2,726,813.12. Following the completion of the transaction, the director now directly owns 681,072 shares in the company, valued at approximately $5,646,086.88. This trade represents a 32.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey M. Thompson sold 392,551 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $11.34, for a total value of $4,451,528.34. Following the sale, the chief executive officer now owns 13,121,898 shares in the company, valued at $148,802,323.32. The trade was a 2.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,930,441 shares of company stock worth $21,099,751 in the last three months. 21.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Red Cat

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in shares of Red Cat in the 2nd quarter worth about $267,000. State Street Corp raised its stake in Red Cat by 44.9% during the third quarter. State Street Corp now owns 221,958 shares of the company’s stock worth $564,000 after acquiring an additional 68,800 shares during the period. Corsair Capital Management L.P. bought a new position in Red Cat in the third quarter worth about $308,000. Wolverine Trading LLC acquired a new position in Red Cat in the third quarter valued at approximately $233,000. Finally, Centiva Capital LP bought a new position in shares of Red Cat during the third quarter valued at approximately $207,000. 37.97% of the stock is currently 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.