Red Cat Holdings, Inc. (NASDAQ:RCAT) Insider Sells $872,325.30 in Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 72,093 shares of the stock in a transaction 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 transaction, the insider now directly owns 613,897 shares in the company, valued at approximately $7,428,153.70. This represents a 10.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were 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 stock was sold at an average price of $9.94, for a total value of $2,853,903.22.
• On Wednesday, December 18th, George Michael Matus sold 112,686 shares of Red Cat stock. The shares were sold at an average price of $9.20, for a total transaction of $1,036,711.20.

Red Cat Stock Performance

RCAT opened at $12.26 on Monday. 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 simple moving average is $6.79 and its 200 day simple moving average is $3.90. The stock has a market capitalization of $982.77 million, a PE ratio of -26.65 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last announced its quarterly 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 net margin of 162.50% and a negative return on equity of 66.19%. During the same quarter last year, the business posted ($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

A number of large investors have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in shares of Red Cat during the 3rd quarter worth about $25,000. Sheets Smith Wealth Management acquired a new position in Red Cat during the third quarter valued at approximately $51,000. United Capital Management of KS Inc. purchased a new stake in Red Cat during the third quarter worth approximately $108,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Red Cat in the third quarter worth $138,000. Finally, PVG Asset Management Corp purchased a new position in shares of Red Cat in the 2nd quarter valued at $63,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

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.