Insider Selling: Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Sells $2,726,813.12 in Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the business’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 directly owns 681,072 shares in the company, valued at approximately $5,646,086.88. This represents a 32.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Red Cat Price Performance

Shares of NASDAQ:RCAT opened at $10.75 on Friday. The company’s 50-day moving average price is $5.91 and its two-hundred day moving average price is $3.48. Red Cat Holdings, Inc. has a one year low of $0.56 and a one year high of $12.57. The stock has a market capitalization of $811.25 million, a PE ratio of -23.37 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results on Monday, December 16th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.27). Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. During the same period last year, the firm earned ($0.11) EPS. On average, analysts anticipate that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Cat

Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in Red Cat during the second quarter worth $267,000. XTX Topco Ltd lifted its stake in Red Cat by 390.9% in the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock valued at $68,000 after purchasing an additional 46,897 shares during the last quarter. PVG Asset Management Corp bought a new stake in Red Cat in the second quarter valued at approximately $63,000. Sheets Smith Wealth Management acquired a new position in shares of Red Cat during the 3rd quarter worth approximately $51,000. Finally, United Capital Management of KS Inc. acquired a new stake in Red Cat during the 3rd quarter valued at $108,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

About Red Cat

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.