George Michael Matus Sells 72,093 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 72,093 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $12.10, for a total value of $872,325.30. Following the completion of the transaction, the insider now owns 613,897 shares of the company’s stock, valued at $7,428,153.70. The trade was a 10.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, December 26th, George Michael Matus sold 309,491 shares of Red Cat stock. The stock was sold at an average price of $14.27, for a total value of $4,416,436.57.
• On Friday, December 20th, George Michael Matus sold 287,113 shares of Red Cat stock. The shares were sold at an average price of $9.94, for a total transaction of $2,853,903.22.
• On Wednesday, December 18th, George Michael Matus sold 112,686 shares of Red Cat stock. The stock was sold at an average price of $9.20, for a total transaction of $1,036,711.20.

Red Cat Stock Performance

RCAT stock opened at $12.26 on Friday. The firm has a market cap of $982.77 million, a P/E ratio of -26.65 and a beta of 1.33. The firm’s fifty day moving average is $6.79 and its 200 day moving average is $3.88. 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 announced its quarterly earnings data 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 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) EPS. As a group, analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Red Cat

A number of large investors have recently bought and sold shares of RCAT. Renaissance Technologies LLC purchased a new stake in shares of Red Cat during the second quarter valued at approximately $267,000. State Street Corp raised its holdings in 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 buying an additional 68,800 shares during the last quarter. Corsair Capital Management L.P. purchased a new stake in Red Cat during the 3rd quarter valued at $308,000. Wolverine Trading LLC bought a new stake in Red Cat in the 3rd quarter worth $233,000. Finally, Centiva Capital LP bought a new stake in Red Cat in the 3rd quarter worth $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.