Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Sells $4,451,528.34 in Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson sold 392,551 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 13,121,898 shares of the company’s stock, valued at $148,802,323.32. This trade represents a 2.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Red Cat Stock Performance

Red Cat stock traded up $1.52 during trading on Thursday, hitting $13.41. The company’s stock had a trading volume of 20,218,289 shares, compared to its average volume of 2,205,958. The stock’s fifty day moving average is $6.40 and its 200 day moving average is $3.72. Red Cat Holdings, Inc. has a 1-year low of $0.56 and a 1-year high of $14.91. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -29.15 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings data on Monday, December 16th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the business earned ($0.11) EPS. On average, research analysts anticipate that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Cat

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC purchased a new stake in Red Cat during the 2nd quarter worth $267,000. Corsair Capital Management L.P. acquired a new stake in Red Cat during the 3rd quarter valued at approximately $308,000. Wolverine Trading LLC purchased a new stake in Red Cat during the 3rd quarter worth approximately $233,000. Centiva Capital LP acquired a new position in shares of Red Cat in the 3rd quarter valued at approximately $207,000. Finally, State Street Corp boosted its stake in shares of Red Cat by 44.9% during the 3rd quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after buying an additional 68,800 shares during the last quarter. Institutional investors and hedge funds 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.