Red Cat (NASDAQ:RCAT) Stock Price Up 0% - What's Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) was up 0% on Wednesday . The stock traded as high as $9.87 and last traded at $9.26. Approximately 4,996,983 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 10,422,772 shares. The stock had previously closed at $9.26.

Red Cat Trading Up 0.9 %

The business has a 50-day moving average of $10.02 and a 200-day moving average of $5.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60. The firm has a market cap of $704.61 million, a price-to-earnings ratio of -16.28 and a beta of 1.32.

Red Cat (NASDAQ:RCAT - Get Free Report) last announced 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 96.00% and a negative net margin of 232.62%. During the same period in the prior year, the firm posted ($0.11) EPS. Research analysts anticipate that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.

Insider Transactions at Red Cat

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

Institutional Trading of Red Cat

Hedge funds and other institutional investors have recently modified their holdings of the stock. Centiva Capital LP bought a new position in Red Cat in the 3rd quarter valued at about $207,000. Wolverine Trading LLC bought a new position in shares of Red Cat during the third quarter worth approximately $233,000. Corsair Capital Management L.P. acquired a new stake in Red Cat during the 3rd quarter worth approximately $308,000. Pekin Hardy Strauss Inc. bought a new stake in Red Cat in the 3rd quarter valued at $138,000. Finally, State Street Corp grew its holdings in Red Cat by 44.9% in the 3rd quarter. State Street Corp now owns 221,958 shares of the company's stock valued at $564,000 after buying an additional 68,800 shares in the last quarter. 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.