Insider Selling: Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Sells 328,928 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $8.29, for a total transaction of $2,726,813.12. Following the completion of the sale, the director now directly owns 681,072 shares in the company, valued at approximately $5,646,086.88. The trade was a 32.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Red Cat Trading Up 18.3 %

NASDAQ RCAT opened at $10.75 on Monday. Red Cat Holdings, Inc. has a 1-year low of $0.56 and a 1-year high of $12.57. The stock’s 50 day moving average is $5.91 and its two-hundred day moving average is $3.49. The company has a market capitalization of $861.73 million, a price-to-earnings ratio of -23.37 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings data 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 return on equity of 66.19% and a negative net margin of 162.50%. During the same period last year, the business earned ($0.11) EPS. On average, analysts predict that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Hedge Funds Weigh In On Red Cat

Several institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of Red Cat during the third quarter worth approximately $25,000. Sheets Smith Wealth Management acquired a new position in Red Cat during the 3rd quarter worth about $51,000. PVG Asset Management Corp bought a new stake in Red Cat during the 2nd quarter worth about $63,000. XTX Topco Ltd increased its position in Red Cat by 390.9% in the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after acquiring an additional 46,897 shares in the last quarter. Finally, United Capital Management of KS Inc. bought a new position in shares of Red Cat in the third quarter worth about $108,000. 37.97% of the stock is owned by 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.