Geode Capital Management LLC Lowers Stock Position in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Geode Capital Management LLC cut its stake in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 592,002 shares of the company’s stock after selling 13,854 shares during the period. Geode Capital Management LLC’s holdings in Red Cat were worth $1,504,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Red Cat

In related news, insider George Michael Matus sold 112,686 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $9.20, for a total transaction of $1,036,711.20. Following the sale, the insider now directly owns 973,103 shares in the company, valued at approximately $8,952,547.60. This represents a 10.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $8.29, for a total transaction of $2,726,813.12. Following the completion of the sale, the director now directly owns 681,072 shares in the company, valued at approximately $5,646,086.88. This trade represents a 32.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,930,441 shares of company stock valued at $21,099,751 in the last 90 days. Company insiders own 21.50% of the company’s stock.

Red Cat Price Performance

Shares of Red Cat stock opened at $11.83 on Thursday. The stock has a market capitalization of $948.30 million, a price-to-earnings ratio of -25.72 and a beta of 1.32. The business has a 50-day moving average of $8.40 and a 200 day moving average of $4.55. Red Cat Holdings, Inc. has a 12 month low of $0.56 and a 12 month high of $15.27.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings data 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 net margin of 162.50% and a negative return on equity of 66.19%. During the same quarter in the previous year, the business posted ($0.11) earnings per share. Equities research analysts anticipate that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

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.