Red Cat Holdings, Inc. (NASDAQ:RCAT) Insider George Michael Matus Sells 287,113 Shares

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 287,113 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $9.94, for a total value of $2,853,903.22. Following the completion of the transaction, the insider now directly owns 685,990 shares of the company’s stock, valued at approximately $6,818,740.60. This trade represents a 29.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

George Michael Matus also recently made the following trade(s):

• On Wednesday, December 18th, George Michael Matus sold 112,686 shares of Red Cat stock. The shares were sold at an average price of $9.20, for a total transaction of $1,036,711.20.

Red Cat Price Performance

Shares of RCAT stock traded up $0.28 during mid-day trading on Monday, hitting $11.03. The company had a trading volume of 21,467,318 shares, compared to its average volume of 2,101,563. The company has a market capitalization of $884.18 million, a P/E ratio of -23.98 and a beta of 1.33. The stock’s 50 day moving average price is $5.91 and its 200-day moving average price is $3.51. Red Cat Holdings, Inc. has a 52-week low of $0.56 and a 52-week high of $13.89.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings data 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 quarter in the prior year, the company posted ($0.11) EPS. On average, equities research analysts expect that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in Red Cat during the third quarter valued at $25,000. Sheets Smith Wealth Management bought a new stake in shares of Red Cat in the 3rd quarter worth about $51,000. United Capital Management of KS Inc. bought a new position in shares of Red Cat in the 3rd quarter valued at about $108,000. XTX Topco Ltd grew its position in Red Cat by 390.9% in the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after acquiring an additional 46,897 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. bought a new stake in Red Cat during the third quarter worth approximately $138,000. 37.97% of the stock is currently owned by institutional investors.

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.