Insider Selling: Red Cat Holdings, Inc. (NASDAQ:RCAT) Insider Sells 72,093 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 72,093 shares of Red Cat stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $12.10, for a total value of $872,325.30. Following the completion of the sale, the insider now owns 613,897 shares in the company, valued at approximately $7,428,153.70. This represents a 10.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

George Michael Matus also recently made the following trade(s):

• On Thursday, December 26th, George Michael Matus sold 309,491 shares of Red Cat stock. The stock was sold at an average price of $14.27, for a total value of $4,416,436.57.
• On Friday, December 20th, George Michael Matus sold 287,113 shares of Red Cat stock. The shares were sold at an average price of $9.94, for a total transaction of $2,853,903.22.
• On Wednesday, December 18th, George Michael Matus sold 112,686 shares of Red Cat stock. The stock was sold at an average price of $9.20, for a total transaction of $1,036,711.20.

Red Cat Price Performance

Shares of NASDAQ RCAT opened at $12.26 on Friday. Red Cat Holdings, Inc. has a 1 year low of $0.56 and a 1 year high of $14.91. The company’s 50-day moving average is $6.79 and its 200 day moving average is $3.88. The stock has a market capitalization of $982.77 million, a P/E ratio of -26.65 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last posted its earnings results on Monday, December 16th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company posted ($0.11) EPS. Research analysts anticipate that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Hedge Funds Weigh In On Red Cat

A number of institutional investors have recently added to or reduced their stakes in RCAT. Sanctuary Advisors LLC bought a new stake in shares of Red Cat during the 3rd quarter valued at $25,000. Sheets Smith Wealth Management purchased a new position in Red Cat during the 3rd quarter valued at about $51,000. PVG Asset Management Corp bought a new stake in Red Cat during the second quarter worth about $63,000. XTX Topco Ltd grew its holdings in Red Cat by 390.9% in the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after purchasing an additional 46,897 shares during the period. Finally, United Capital Management of KS Inc. bought a new position in shares of Red Cat during the third quarter valued at approximately $108,000. Institutional investors 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.