AlphaCentric Advisors LLC Acquires New Shares in Red Cat Holdings, Inc. (NASDAQ:RCAT)

AlphaCentric Advisors LLC bought a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,500 shares of the company’s stock, valued at approximately $353,000.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its stake in shares of 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 during the period. Corsair Capital Management L.P. purchased a new position in Red Cat during the 3rd quarter valued at about $308,000. Wolverine Trading LLC bought a new stake in shares of Red Cat during the third quarter valued at about $233,000. Centiva Capital LP bought a new stake in shares of Red Cat during the third quarter valued at about $207,000. Finally, Silver Oak Securities Incorporated lifted its holdings in shares of Red Cat by 502.3% in the fourth quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company’s stock worth $856,000 after buying an additional 50,668 shares in the last quarter. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Red Cat Stock Performance

Shares of NASDAQ:RCAT opened at $8.92 on Monday. The company has a 50 day moving average of $10.11 and a 200 day moving average of $6.07. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. Red Cat Holdings, Inc. has a 12 month low of $0.66 and a 12 month high of $15.27.

Red Cat (NASDAQ:RCAT) last announced 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 232.62% and a negative return on equity of 96.00%. During the same quarter in the prior year, the company earned ($0.11) earnings per share. On average, sell-side analysts expect that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Insider Activity at Red Cat

In other news, CEO Jeffrey M. Thompson sold 392,551 shares of Red Cat stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 13,121,898 shares in the company, valued at approximately $148,802,323.32. This trade represents a 2.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 681,072 shares in the company, valued at approximately $5,646,086.88. This trade represents a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,930,441 shares of company stock valued at $21,099,751. Company insiders own 21.50% of the company’s stock.

Red Cat 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.