Red Cat (NASDAQ:RCAT) Stock Price Down 3.9% - Here's Why

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s share price traded down 3.9% during trading 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 Stock Up 8.3 %

The firm's 50-day simple moving average is $10.07 and its 200 day simple moving average is $5.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43. The company has a market capitalization of $850.50 million, a PE ratio of -19.65 and a beta of 1.24.

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 net margin of 232.62% and a negative return on equity of 96.00%. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. As a group, equities research analysts forecast that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Insider Transactions at Red Cat

In other Red Cat news, Director Joseph David Freedman sold 15,000 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $14.24, for a total value of $213,600.00. Following the sale, the director now directly owns 585,190 shares of the company's stock, valued at approximately $8,333,105.60. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey M. Thompson sold 392,551 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $11.34, for a total transaction of $4,451,528.34. Following the completion of the sale, the chief executive officer now owns 13,121,898 shares of the company's stock, valued at approximately $148,802,323.32. The trade was a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,930,441 shares of company stock valued at $21,099,751 over the last three months. 21.50% of the stock is currently owned by insiders.

Institutional Trading of Red Cat

Institutional investors have recently modified their holdings of the company. Gladstone Institutional Advisory LLC lifted its position in Red Cat by 34.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 13,400 shares of the company's stock valued at $172,000 after buying an additional 3,400 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Red Cat in the fourth quarter valued at about $60,000. Jones Financial Companies Lllp raised its holdings in shares of Red Cat by 1,536.6% during the 4th quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company's stock valued at $114,000 after buying an additional 8,344 shares during the period. Sanctuary Advisors LLC acquired a new position in Red Cat during the 3rd quarter worth approximately $25,000. Finally, Regency Capital Management Inc. DE acquired a new position in shares of Red Cat during the fourth quarter worth $130,000. 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.