Insider Selling: Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Sells 20,000 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Nicholas Reyland Liuzza, Jr. sold 20,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $13.92, for a total value of $278,400.00. Following the sale, the director now directly owns 461,072 shares of the company’s stock, valued at approximately $6,418,122.24. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Red Cat Trading Up 12.8 %

Shares of RCAT stock traded up $1.52 during trading hours on Thursday, hitting $13.41. 20,218,289 shares of the company were exchanged, compared to its average volume of 2,205,958. The company has a market capitalization of $1.07 billion, a PE ratio of -29.15 and a beta of 1.33. Red Cat Holdings, Inc. has a 52 week low of $0.56 and a 52 week high of $14.91. The business has a 50 day moving average of $6.40 and a two-hundred day moving average of $3.72.

Red Cat (NASDAQ:RCAT) last released 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 period last year, the company posted ($0.11) earnings per share. On average, research analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Red Cat

Hedge funds have recently modified their holdings of the stock. Centiva Capital LP acquired a new stake in Red Cat in the 3rd quarter valued at about $207,000. Wolverine Trading LLC acquired a new position in Red Cat in the 3rd quarter valued at $233,000. Corsair Capital Management L.P. acquired a new stake in Red Cat during the third quarter worth about $308,000. Pekin Hardy Strauss Inc. bought a new position in Red Cat in the third quarter valued at approximately $138,000. Finally, Renaissance Technologies LLC acquired a new position in Red Cat during the second quarter valued at approximately $267,000. Institutional investors own 37.97% of the company’s stock.

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.