Game Plan Financial Advisors LLC Sells 2,500 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT)

Game Plan Financial Advisors LLC lessened its stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 50.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,500 shares of the company’s stock after selling 2,500 shares during the period. Game Plan Financial Advisors LLC’s holdings in Red Cat were worth $31,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of RCAT. Corsair Capital Management L.P. bought a new stake in Red Cat during the third quarter valued at about $308,000. Wolverine Trading LLC bought a new stake in Red Cat during the third quarter valued at about $233,000. Centiva Capital LP bought a new position in shares of Red Cat in the third quarter worth about $207,000. State Street Corp boosted its stake in shares of Red Cat by 44.9% in the third quarter. State Street Corp now owns 221,958 shares of the company’s stock worth $564,000 after acquiring an additional 68,800 shares during the period. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Red Cat in the third quarter worth about $138,000. Institutional investors own 37.97% of the company’s stock.

Insider Transactions at Red Cat

In related news, insider George Michael Matus sold 112,686 shares of the 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 of the company’s stock, valued at approximately $8,952,547.60. This represents a 10.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey M. Thompson sold 392,551 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $11.34, for a total value of $4,451,528.34. Following the transaction, the chief executive officer now directly 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 90 days. Company insiders own 21.50% of the company’s stock.

Red Cat Stock Performance

NASDAQ RCAT opened at $8.92 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $10.11 and a 200-day moving average price of $6.04. Red Cat Holdings, Inc. has a twelve month low of $0.66 and a twelve month high of $15.27.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings data on Monday, December 16th. The company reported ($0.18) earnings per share 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 business posted ($0.11) earnings per share. Equities analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

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.