Red Cat (NASDAQ:RCAT) Stock Price Down 8.5% – What’s Next?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) were down 8.5% on Thursday . The company traded as low as $9.59 and last traded at $9.98. Approximately 5,904,267 shares changed hands during trading, a decline of 41% from the average daily volume of 9,928,730 shares. The stock had previously closed at $10.91.

Red Cat Stock Down 5.3 %

The firm has a 50 day moving average price of $9.10 and a 200-day moving average price of $4.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60. The firm has a market cap of $828.05 million, a price-to-earnings ratio of -18.99 and a beta of 1.32.

Red Cat (NASDAQ:RCAT) last issued its earnings results on Monday, December 16th. The company reported ($0.18) earnings per share (EPS) 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 quarter in the prior year, the business posted ($0.11) earnings per share. As a group, equities analysts predict that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Insider Activity at Red Cat

In related news, CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $10.44, for a total transaction of $1,188,312.12. Following the sale, the executive now owns 558,325 shares of the company’s stock, valued at approximately $5,828,913. This trade represents a 16.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey M. Thompson sold 392,551 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 13,121,898 shares of the company’s stock, valued at approximately $148,802,323.32. The trade was a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,930,441 shares of company stock worth $21,099,751 in the last ninety days. Company insiders own 21.50% of the company’s stock.

Institutional Trading of Red Cat

Several hedge funds have recently bought and sold shares of RCAT. Myecfo LLC acquired a new position in shares of Red Cat in the fourth quarter valued at approximately $193,000. Kieckhefer Group LLC bought a new position in Red Cat during the 4th quarter worth about $296,000. Sanctuary Advisors LLC acquired a new stake in shares of Red Cat in the 3rd quarter valued at about $25,000. Wolverine Trading LLC acquired a new stake in shares of Red Cat in the 3rd quarter valued at about $233,000. Finally, State Street Corp lifted its holdings in shares of Red Cat by 44.9% in the third quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after purchasing an additional 68,800 shares in the last quarter. 37.97% of the stock is currently owned by institutional investors and hedge funds.

About Red Cat

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.