Geoffrey Wayne Hitchcock Sells 113,823 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) CRO Geoffrey Wayne Hitchcock sold 113,823 shares of Red Cat stock in a transaction that occurred 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 in the company, valued at approximately $5,828,913. This represents a 16.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Red Cat Stock Performance

Shares of RCAT traded up $1.52 during mid-day trading on Thursday, reaching $13.41. 20,218,289 shares of the company were exchanged, compared to its average volume of 2,205,958. The stock has a market capitalization of $1.07 billion, a PE ratio of -29.15 and a beta of 1.33. Red Cat Holdings, Inc. has a 52 week low of $0.56 and a 52 week high of $14.91. The business has a 50 day simple moving average of $6.40 and a two-hundred day simple moving average of $3.72.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings data on Monday, December 16th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 prior year, the business posted ($0.11) earnings per share. On average, analysts predict that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Institutional Investors Weigh In On Red Cat

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in Red Cat in the 2nd quarter valued at about $267,000. State Street Corp increased its position in Red Cat by 44.9% in the third quarter. State Street Corp now owns 221,958 shares of the company’s stock worth $564,000 after buying an additional 68,800 shares during the last quarter. Corsair Capital Management L.P. bought a new stake in Red Cat during the 3rd quarter valued at $308,000. Wolverine Trading LLC purchased a new position in Red Cat during the third quarter valued at approximately $233,000. Finally, Centiva Capital LP bought a new position in shares of Red Cat in the third quarter worth $207,000. 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.