Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson Sells 392,551 Shares of Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson sold 392,551 shares of Red Cat stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 13,121,898 shares in the company, valued at $148,802,323.32. This trade represents a 2.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Red Cat Stock Performance

NASDAQ:RCAT opened at $13.41 on Friday. Red Cat Holdings, Inc. has a fifty-two week low of $0.56 and a fifty-two week high of $14.91. The company’s 50-day simple moving average is $6.60 and its 200-day simple moving average is $3.78. The stock has a market capitalization of $1.07 billion, a P/E ratio of -29.15 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) earnings per share (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 last year, the company earned ($0.11) EPS. On average, research analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Red Cat

Several hedge funds and other institutional investors have recently modified their holdings of RCAT. Sanctuary Advisors LLC purchased a new stake in Red Cat during the 3rd quarter worth approximately $25,000. Sheets Smith Wealth Management acquired a new position in shares of Red Cat in the third quarter valued at about $51,000. United Capital Management of KS Inc. acquired a new stake in shares of Red Cat during the third quarter worth about $108,000. XTX Topco Ltd increased its holdings in Red Cat by 390.9% in the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after buying an additional 46,897 shares during the period. Finally, Pekin Hardy Strauss Inc. acquired a new stake in Red Cat during the 3rd quarter valued at approximately $138,000. 37.97% of the stock is owned by hedge funds and other institutional investors.

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.