Verus Capital Partners LLC Acquires New Holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Verus Capital Partners LLC acquired a new stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,060 shares of the company’s stock, valued at approximately $181,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cable Hill Partners LLC bought a new stake in shares of Red Cat during the fourth quarter valued at about $257,000. Atria Wealth Solutions Inc. bought a new stake in shares of Red Cat during the fourth quarter valued at about $134,000. AlphaCentric Advisors LLC bought a new stake in shares of Red Cat during the fourth quarter valued at about $353,000. Gladstone Institutional Advisory LLC raised its stake in shares of Red Cat by 34.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company’s stock valued at $172,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Silver Oak Securities Incorporated raised its stake in shares of Red Cat by 502.3% during the fourth quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company’s stock valued at $856,000 after purchasing an additional 50,668 shares in the last quarter. 37.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider George Michael Matus sold 309,491 shares of Red Cat stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $14.27, for a total value of $4,416,436.57. Following the transaction, the insider now owns 304,406 shares of the company’s stock, valued at approximately $4,343,873.62. This trade represents a 50.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph David Freedman sold 15,000 shares of Red Cat stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $14.24, for a total value of $213,600.00. Following the completion of the transaction, the director now directly owns 585,190 shares in the company, valued at $8,333,105.60. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,930,441 shares of company stock valued at $21,099,751 over the last three months. Company insiders own 21.50% of the company’s stock.

Red Cat Price Performance

NASDAQ:RCAT opened at $6.20 on Friday. The business’s 50-day moving average price is $9.90 and its 200 day moving average price is $6.42. The firm has a market cap of $496.60 million, a P/E ratio of -11.47 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 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 released its earnings results 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 return on equity of 96.00% and a negative net margin of 232.62%. During the same period last year, the business earned ($0.11) EPS. As a group, sell-side analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

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.