Red Cat Holdings, Inc. (NASDAQ:RCAT) Insider George Michael Matus Sells 309,491 Shares

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) insider George Michael Matus sold 309,491 shares of the company's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $14.27, for a total value of $4,416,436.57. Following the completion of the sale, the insider now owns 304,406 shares of the company's stock, valued at approximately $4,343,873.62. The trade was a 50.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

George Michael Matus also recently made the following trade(s):

• On Tuesday, December 24th, George Michael Matus sold 72,093 shares of Red Cat stock. The stock was sold at an average price of $12.10, for a total transaction of $872,325.30.
• On Friday, December 20th, George Michael Matus sold 287,113 shares of Red Cat stock. The shares were sold at an average price of $9.94, for a total transaction 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 Trading Down 8.6 %

RCAT stock traded down $1.15 during midday trading on Friday, hitting $12.26. 15,418,233 shares of the company's stock were exchanged, compared to its average volume of 2,259,390. Red Cat Holdings, Inc. has a 1-year low of $0.56 and a 1-year high of $14.91. The stock has a market capitalization of $982.77 million, a PE ratio of -26.65 and a beta of 1.33. The business has a 50-day simple moving average of $6.79 and a two-hundred day simple moving average of $3.86.

Red Cat (NASDAQ:RCAT - Get Free Report) last issued its quarterly earnings data 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 66.19% and a negative net margin of 162.50%. During the same period last year, the company earned ($0.11) EPS. As a group, research analysts expect that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Cat

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in shares of Red Cat in the 2nd quarter valued at $267,000. State Street Corp increased 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 period. Corsair Capital Management L.P. acquired a new stake in shares of Red Cat during the third quarter worth about $308,000. Wolverine Trading LLC purchased a new position in shares of Red Cat in the third quarter valued at approximately $233,000. Finally, Centiva Capital LP purchased a new position in shares of Red Cat in the third quarter valued at approximately $207,000. 37.97% of the stock is owned by hedge funds and other institutional investors.

About Red Cat

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.