Red Cat (NASDAQ:RCAT) Shares Down 5.1% - Here's What Happened

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) fell 5.1% during trading on Thursday . The company traded as low as $8.79 and last traded at $8.87. 3,261,939 shares changed hands during trading, a decline of 68% from the average session volume of 10,314,919 shares. The stock had previously closed at $9.35.

Red Cat Trading Down 6.8 %

The business's 50 day moving average price is $9.99 and its two-hundred day moving average price is $5.40. The company has a market capitalization of $698.19 million, a price-to-earnings ratio of -16.13 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43.

Red Cat (NASDAQ:RCAT - Get Free Report) last issued its 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 period last year, the firm earned ($0.11) earnings per share. Equities analysts forecast that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joseph David Freedman sold 15,000 shares of the business's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $14.24, for a total transaction of $213,600.00. Following the completion of the transaction, the director now owns 585,190 shares of the company's stock, valued at approximately $8,333,105.60. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $8.29, for a total transaction of $2,726,813.12. Following the completion of the sale, the director now owns 681,072 shares in the company, valued at $5,646,086.88. This represents a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,930,441 shares of company stock worth $21,099,751 in the last ninety days. Corporate insiders own 21.50% of the company's stock.

Institutional Investors Weigh In On Red Cat

Several large investors have recently made changes to their positions in the company. Gladstone Institutional Advisory LLC raised its stake in shares of Red Cat by 34.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company's stock valued at $172,000 after acquiring an additional 3,400 shares during the last quarter. Silver Oak Securities Incorporated increased its holdings in Red Cat by 502.3% during the 4th quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company's stock valued at $856,000 after purchasing an additional 50,668 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in Red Cat in the 4th quarter valued at $139,000. N.E.W. Advisory Services LLC acquired a new position in Red Cat in the fourth quarter worth $423,000. Finally, Regency Capital Management Inc. DE bought a new stake in shares of Red Cat during the fourth quarter worth $130,000. 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.

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