Cable Hill Partners LLC Invests $257,000 in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Cable Hill Partners LLC bought a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 20,000 shares of the company’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RCAT. Corsair Capital Management L.P. acquired a new stake in shares of Red Cat during the 3rd quarter worth about $308,000. Wolverine Trading LLC acquired a new position in Red Cat during the third quarter worth approximately $233,000. Centiva Capital LP acquired a new position in Red Cat during the third quarter worth approximately $207,000. State Street Corp increased its position in Red Cat by 44.9% during the third quarter. State Street Corp now owns 221,958 shares of the company’s stock worth $564,000 after buying an additional 68,800 shares during the period. Finally, Pekin Hardy Strauss Inc. acquired a new position in Red Cat during the third quarter worth approximately $138,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

Red Cat Trading Up 2.6 %

RCAT opened at $6.78 on Thursday. The firm has a market cap of $543.49 million, a price-to-earnings ratio of -12.56 and a beta of 1.24. Red Cat Holdings, Inc. has a 52 week low of $0.70 and a 52 week high of $15.27. The business’s 50 day moving average is $10.05 and its two-hundred day moving average is $6.37. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30.

Red Cat (NASDAQ:RCAT) last announced its 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 232.62% and a negative return on equity of 96.00%. During the same period in the previous year, the company earned ($0.11) earnings per share. On average, research analysts predict that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.

Insider Activity at Red Cat

In related news, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of Red Cat stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $8.29, for a total value of $2,726,813.12. Following the sale, the director now directly owns 681,072 shares in the company, valued at $5,646,086.88. The trade was a 32.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey M. Thompson sold 392,551 shares of Red Cat stock in a transaction that occurred 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 sale, the chief executive officer now owns 13,121,898 shares in the company, valued at approximately $148,802,323.32. This trade represents a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,930,441 shares of company stock worth $21,099,751 over the last three months. 21.50% of the stock is currently owned by corporate insiders.

Red Cat 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.