George Michael Matus Sells 309,491 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 309,491 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $14.27, for a total transaction of $4,416,436.57. Following the completion of the transaction, the insider now owns 304,406 shares of the company’s stock, valued at $4,343,873.62. This represents a 50.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, December 24th, George Michael Matus sold 72,093 shares of Red Cat stock. The shares were sold at an average price of $12.10, for a total value of $872,325.30.
• On Friday, December 20th, George Michael Matus sold 287,113 shares of Red Cat stock. The stock was sold at an average price of $9.94, for a total value of $2,853,903.22.
• 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 value of $1,036,711.20.

Red Cat Price Performance

Shares of Red Cat stock opened at $12.26 on Friday. The firm’s fifty day simple moving average is $6.79 and its 200-day simple moving average is $3.86. 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 capitalization of $982.77 million, a price-to-earnings ratio of -26.65 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last issued its 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 in the previous year, the company earned ($0.11) EPS. Analysts anticipate that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Centiva Capital LP purchased a new position in Red Cat in the 3rd quarter valued at approximately $207,000. Wolverine Trading LLC purchased a new stake in shares of Red Cat in the third quarter valued at about $233,000. Corsair Capital Management L.P. acquired a new stake in shares of Red Cat in the third quarter valued at approximately $308,000. Pekin Hardy Strauss Inc. purchased a new position in shares of Red Cat during the 3rd quarter worth approximately $138,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Red Cat during the 2nd quarter worth approximately $267,000. 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.