Insider Selling: Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Sells $401,721.32 in Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson sold 28,756 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $13.97, for a total transaction of $401,721.32. Following the completion of the transaction, the chief executive officer now directly owns 13,014,449 shares of the company’s stock, valued at $181,811,852.53. The trade was a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Red Cat Price Performance

NASDAQ:RCAT opened at $12.26 on Friday. The firm has a market cap of $982.77 million, a PE ratio of -26.65 and a beta of 1.33. The firm has a 50 day simple moving average of $6.79 and a 200-day simple moving average of $3.88. Red Cat Holdings, Inc. has a 1-year low of $0.56 and a 1-year high of $14.91.

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

Hedge Funds Weigh In On Red Cat

Several large investors have recently added to or reduced their stakes in RCAT. Renaissance Technologies LLC acquired a new position in shares of Red Cat during the 2nd quarter valued at about $267,000. State Street Corp grew its holdings in Red Cat by 44.9% in the third quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after purchasing an additional 68,800 shares during the period. Corsair Capital Management L.P. acquired a new position in Red Cat during the third quarter worth approximately $308,000. Wolverine Trading LLC purchased a new position in Red Cat during the third quarter worth approximately $233,000. Finally, Centiva Capital LP acquired a new position in shares of Red Cat in the 3rd quarter valued at $207,000. 37.97% of the stock is currently owned by hedge funds and other 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.