Red Cat Holdings, Inc. (NASDAQ:RCAT) CRO Geoffrey Wayne Hitchcock Sells 113,823 Shares

Red Cat Holdings, Inc. (NASDAQ:RCAT) CRO Geoffrey Wayne Hitchcock sold 113,823 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $10.44, for a total transaction of $1,188,312.12. Following the completion of the sale, the executive now owns 558,325 shares of the company’s stock, valued at approximately $5,828,913. The trade was a 16.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Red Cat Stock Up 12.8 %

Red Cat stock opened at $13.41 on Friday. Red Cat Holdings, Inc. has a 12 month low of $0.56 and a 12 month high of $14.91. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -29.15 and a beta of 1.33. The business has a 50 day moving average price of $6.60 and a two-hundred day moving average price of $3.78.

Red Cat (NASDAQ:RCAT) last issued its 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 return on equity of 66.19% and a negative net margin of 162.50%. During the same period in the prior year, the firm earned ($0.11) earnings per share. On average, analysts expect that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of Red Cat

Several institutional investors have recently made changes to their positions in RCAT. Renaissance Technologies LLC acquired a new position in Red Cat in the second quarter worth about $267,000. Corsair Capital Management L.P. acquired a new position in shares of Red Cat in the 3rd quarter worth approximately $308,000. Wolverine Trading LLC bought a new position in shares of Red Cat during the 3rd quarter worth approximately $233,000. Centiva Capital LP acquired a new stake in Red Cat in the 3rd quarter valued at $207,000. Finally, State Street Corp grew its position in Red Cat by 44.9% in the third quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after acquiring an additional 68,800 shares during the period. 37.97% of the stock is currently owned by institutional investors and hedge funds.

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.