Red Cat Holdings, Inc. (NASDAQ:RCAT) Insider George Michael Matus Sells 72,093 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 72,093 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $12.10, for a total transaction of $872,325.30. Following the completion of the transaction, the insider now directly owns 613,897 shares of the company’s stock, valued at $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 can be accessed through this hyperlink.

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 value of $1,036,711.20.

Red Cat Price Performance

Shares of RCAT stock traded down $1.15 during trading hours on Friday, reaching $12.26. 15,418,233 shares of the stock were exchanged, compared to its average volume of 2,259,390. The business’s fifty day moving average is $6.60 and its two-hundred day moving average is $3.78. The firm has a market capitalization of $982.77 million, a P/E ratio of -26.65 and a beta of 1.33. Red Cat Holdings, Inc. has a 12-month low of $0.56 and a 12-month high of $14.91.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings data 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 earned ($0.11) earnings per share. As a group, equities research analysts predict that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of Red Cat

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in shares of Red Cat during the 2nd quarter worth about $267,000. State Street Corp lifted its stake in 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 during the last quarter. Corsair Capital Management L.P. acquired a new position in Red Cat in the third quarter valued at approximately $308,000. Wolverine Trading LLC purchased a new position in Red Cat in the third quarter valued at approximately $233,000. Finally, Centiva Capital LP purchased a new position in Red Cat in the third quarter valued at approximately $207,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

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.