Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson Sells 28,756 Shares

Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson sold 28,756 shares of Red Cat stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $13.97, for a total value of $401,721.32. Following the completion of the transaction, the chief executive officer now directly owns 13,014,449 shares in the company, valued at $181,811,852.53. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Red Cat Stock Performance

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

Red Cat (NASDAQ:RCAT) last issued its earnings results on Monday, December 16th. The company reported ($0.18) 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 quarter in the previous year, the company posted ($0.11) earnings per share. Sell-side analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Cat

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in shares of Red Cat during the 2nd quarter valued at about $267,000. Corsair Capital Management L.P. acquired a new stake in Red Cat in the third quarter valued at approximately $308,000. Wolverine Trading LLC acquired a new stake in Red Cat in the third quarter valued at approximately $233,000. Centiva Capital LP purchased a new stake in shares of Red Cat during the third quarter valued at approximately $207,000. Finally, State Street Corp lifted its position in shares of 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 purchasing an additional 68,800 shares in the last quarter. Hedge funds and other 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.