George Michael Matus Sells 287,113 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) insider George Michael Matus sold 287,113 shares of the company's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $9.94, for a total value of $2,853,903.22. Following the sale, the insider now directly owns 685,990 shares in the company, valued at $6,818,740.60. This represents a 29.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 Red Cat stock traded up $0.28 on Monday, reaching $11.03. 21,467,318 shares of the company were exchanged, compared to its average volume of 2,101,563. The stock's 50 day moving average price is $5.91 and its 200-day moving average price is $3.51. The company has a market cap of $884.18 million, a P/E ratio of -23.98 and a beta of 1.33. Red Cat Holdings, Inc. has a 1-year low of $0.56 and a 1-year high of $13.89.

Red Cat (NASDAQ:RCAT - Get Free Report) 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. On average, 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 institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new stake in shares of Red Cat during the 2nd quarter worth approximately $267,000. XTX Topco Ltd raised its stake in Red Cat by 390.9% during the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company's stock worth $68,000 after acquiring an additional 46,897 shares in the last quarter. PVG Asset Management Corp purchased a new stake in Red Cat in the second quarter valued at $63,000. Sheets Smith Wealth Management acquired a new position in Red Cat in the third quarter valued at $51,000. Finally, United Capital Management of KS Inc. purchased a new position in shares of Red Cat during the third quarter worth about $108,000. 37.97% of the stock is owned by hedge funds and other 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.