Jeffrey M. Thompson Sells 28,756 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson sold 28,756 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $13.97, for a total transaction of $401,721.32. Following the sale, the chief executive officer now owns 13,014,449 shares of the company’s stock, valued at approximately $181,811,852.53. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Red Cat Stock Down 8.6 %

NASDAQ:RCAT opened at $12.26 on Friday. The stock has a market cap of $982.77 million, a price-to-earnings ratio of -26.65 and a beta of 1.33. The company’s 50 day moving average price is $6.79 and its 200-day moving average price is $3.86. Red Cat Holdings, Inc. has a 52 week low of $0.56 and a 52 week high of $14.91.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings data on Monday, December 16th. The company reported ($0.18) earnings per share (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 period in the prior year, the firm earned ($0.11) earnings per share. As a group, sell-side analysts anticipate that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Institutional Investors Weigh In On Red Cat

Several institutional investors have recently modified their holdings of RCAT. Renaissance Technologies LLC purchased a new position in Red Cat in the 2nd quarter worth about $267,000. State Street Corp grew its stake in shares of Red Cat by 44.9% in the third quarter. State Street Corp now owns 221,958 shares of the company’s stock worth $564,000 after acquiring an additional 68,800 shares during the period. Corsair Capital Management L.P. purchased a new position in shares of Red Cat during the third quarter valued at approximately $308,000. Wolverine Trading LLC bought a new position in Red Cat during the third quarter valued at approximately $233,000. Finally, Centiva Capital LP bought a new stake in Red Cat in the 3rd quarter worth approximately $207,000. 37.97% of the stock is owned by hedge funds and other 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.