Red Cat (NASDAQ:RCAT) Trading Down 4.3% - What's Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) fell 4.3% during mid-day trading on Monday . The company traded as low as $9.24 and last traded at $9.60. 3,559,813 shares traded hands during trading, a decline of 66% from the average session volume of 10,333,799 shares. The stock had previously closed at $10.03.

Red Cat Trading Down 7.0 %

The stock has a market capitalization of $747.90 million, a PE ratio of -20.28 and a beta of 1.32. The company's 50 day simple moving average is $8.83 and its 200 day simple moving average is $4.78.

Red Cat (NASDAQ:RCAT - Get Free Report) last released its earnings results on Monday, December 16th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the company earned ($0.11) EPS. As a group, analysts predict that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Insider Activity at Red Cat

In other Red Cat news, Director Joseph David Freedman sold 15,000 shares of Red Cat stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $14.24, for a total transaction of $213,600.00. Following the transaction, the director now directly owns 585,190 shares of the company's stock, valued at $8,333,105.60. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Reyland Liuzza, Jr. sold 20,000 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $13.92, for a total transaction of $278,400.00. Following the completion of the sale, the director now directly owns 461,072 shares of the company's stock, valued at $6,418,122.24. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,930,441 shares of company stock worth $21,099,751. 21.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RCAT. Renaissance Technologies LLC purchased a new stake in shares of Red Cat during the 2nd quarter valued at about $267,000. Corsair Capital Management L.P. purchased a new stake in shares of Red Cat during the third quarter valued at approximately $308,000. Wolverine Trading LLC acquired a new position in shares of Red Cat during the third quarter worth $233,000. Centiva Capital LP purchased a new position in shares of Red Cat in the third quarter valued at $207,000. Finally, State Street Corp grew its holdings in Red Cat by 44.9% during the 3rd quarter. State Street Corp now owns 221,958 shares of the company's stock valued at $564,000 after purchasing an additional 68,800 shares in the last quarter. Institutional investors and hedge funds 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.