Red Cat (NASDAQ:RCAT) Stock Price Down 8.2% – What’s Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT) shares traded down 8.2% during trading on Tuesday . The stock traded as low as $10.02 and last traded at $9.87. 4,294,217 shares traded hands during trading, a decline of 56% from the average session volume of 9,692,133 shares. The stock had previously closed at $10.75.

Red Cat Price Performance

The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $780.20 million, a P/E ratio of -18.08 and a beta of 1.24. The business has a 50-day simple moving average of $10.06 and a 200 day simple moving average of $5.87.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results on Monday, December 16th. The company reported ($0.18) earnings per share (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 company posted ($0.11) earnings per share. On average, analysts forecast that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Insider Transactions at Red Cat

In related news, insider George Michael Matus sold 112,686 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $9.20, for a total value of $1,036,711.20. Following the completion of the sale, the insider now directly owns 973,103 shares of the company’s stock, valued at $8,952,547.60. The trade was a 10.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph David Freedman sold 15,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $14.24, for a total value of $213,600.00. Following the completion of the transaction, the director now owns 585,190 shares in the company, valued at approximately $8,333,105.60. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,930,441 shares of company stock valued at $21,099,751. Corporate insiders own 21.50% of the company’s stock.

Institutional Trading of Red Cat

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew 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 acquiring an additional 68,800 shares in the last quarter. Corsair Capital Management L.P. bought a new position in Red Cat in the 3rd quarter valued at $308,000. Wolverine Trading LLC purchased a new stake in shares of Red Cat during the 3rd quarter valued at $233,000. Centiva Capital LP bought a new stake in shares of Red Cat during the 3rd quarter worth $207,000. Finally, LPL Financial LLC boosted its holdings in shares of Red Cat by 497.2% in the 4th quarter. LPL Financial LLC now owns 74,008 shares of the company’s stock worth $951,000 after buying an additional 61,615 shares during the last quarter. Hedge funds and other 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.