Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson Sells 392,551 Shares

Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson sold 392,551 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $11.34, for a total value of $4,451,528.34. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Red Cat Stock Performance

NASDAQ:RCAT opened at $12.26 on Friday. The stock has a 50-day simple moving average of $6.79 and a two-hundred day simple moving average of $3.86. The firm has a market capitalization of $982.77 million, a PE ratio of -26.65 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.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings data 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 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) EPS. Equities analysts forecast that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of Red Cat

Institutional investors and hedge funds have recently modified their holdings of the company. Centiva Capital LP bought a new position in Red Cat in the 3rd quarter worth $207,000. Wolverine Trading LLC purchased a new position in shares of Red Cat in the third quarter valued at about $233,000. Corsair Capital Management L.P. bought a new position in shares of Red Cat in the third quarter worth about $308,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Red Cat during the third quarter worth about $138,000. Finally, Renaissance Technologies LLC bought a new stake in Red Cat during the 2nd quarter valued at approximately $267,000. 37.97% of the stock is currently owned by institutional investors.

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.