State Street Corp Has $564,000 Stock Holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT)

State Street Corp lifted its position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) by 44.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 221,958 shares of the company's stock after purchasing an additional 68,800 shares during the period. State Street Corp owned 0.29% of Red Cat worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Centiva Capital LP bought a new position in Red Cat during the 3rd quarter worth $207,000. Corsair Capital Management L.P. bought a new position in Red Cat during the third quarter worth about $308,000. Pekin Hardy Strauss Inc. acquired a new stake in Red Cat in the 3rd quarter worth about $138,000. United Capital Management of KS Inc. acquired a new stake in Red Cat in the 3rd quarter worth about $108,000. Finally, Sheets Smith Wealth Management bought a new stake in Red Cat in the 3rd quarter valued at about $51,000. 37.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Red Cat

In other news, Director Joseph David Freedman sold 15,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey M. Thompson sold 392,551 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $11.34, for a total transaction of $4,451,528.34. Following the transaction, the chief executive officer now owns 13,121,898 shares of the company's stock, valued at approximately $148,802,323.32. This represents a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,930,441 shares of company stock valued at $21,099,751 over the last three months. 21.50% of the stock is owned by insiders.

Red Cat Stock Up 10.6 %

Shares of RCAT traded up $1.27 during mid-day trading on Friday, hitting $13.20. 11,841,496 shares of the company's stock were exchanged, compared to its average volume of 10,160,248. Red Cat Holdings, Inc. has a 52 week low of $0.56 and a 52 week high of $14.91. The stock's 50-day simple moving average is $7.80 and its 200-day simple moving average is $4.30. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -28.70 and a beta of 1.33.

Red Cat (NASDAQ:RCAT - Get Free Report) last posted 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 return on equity of 66.19% and a negative net margin of 162.50%. During the same period in the prior year, the business posted ($0.11) EPS. Analysts forecast that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

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.