Red Cat (NASDAQ:RCAT) Stock Price Down 3.9% – Here’s What Happened

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s share price traded down 3.9% on Monday . The company traded as low as $7.82 and last traded at $8.45. 3,619,034 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 9,988,533 shares. The stock had previously closed at $8.79.

Red Cat Price Performance

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 stock has a market cap of $707.01 million, a price-to-earnings ratio of -16.33 and a beta of 1.24. The business’s 50-day simple moving average is $10.02 and its two-hundred day simple moving average is $5.52.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results 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 return on equity of 96.00% and a negative net margin of 232.62%. During the same quarter last year, the business posted ($0.11) EPS. Research analysts expect that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Insider Transactions at Red Cat

In related news, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of Red Cat stock in a transaction on 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 transaction, the director now owns 681,072 shares of the company’s stock, valued at $5,646,086.88. This trade represents a 32.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph David Freedman sold 15,000 shares of Red Cat stock in a transaction on Monday, December 30th. The stock was sold at an average price of $14.24, for a total transaction of $213,600.00. Following the transaction, the director now directly owns 585,190 shares of the company’s stock, valued at $8,333,105.60. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,930,441 shares of company stock worth $21,099,751. Company insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Red Cat

Several hedge funds and other institutional investors have recently made changes to their positions in RCAT. Renaissance Technologies LLC bought a new stake in shares of Red Cat during the second quarter worth about $267,000. Corsair Capital Management L.P. bought a new stake in shares of Red Cat during the third quarter worth about $308,000. Wolverine Trading LLC bought a new stake in shares of Red Cat during the third quarter worth about $233,000. Centiva Capital LP bought a new stake in shares of Red Cat during the third quarter worth about $207,000. Finally, State Street Corp increased its position in shares of 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 acquiring an additional 68,800 shares in the last quarter. 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.