George Michael Matus Sells 287,113 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 287,113 shares of Red Cat stock in a transaction on Friday, December 20th. The shares were sold at an average price of $9.94, for a total transaction of $2,853,903.22. Following the completion of the transaction, the insider now directly owns 685,990 shares of the company’s stock, valued at $6,818,740.60. The trade was a 29.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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 NASDAQ:RCAT opened at $11.89 on Wednesday. The business’s 50 day moving average price is $6.22 and its 200-day moving average price is $3.66. Red Cat Holdings, Inc. has a 1 year low of $0.56 and a 1 year high of $13.89. The firm has a market capitalization of $953.11 million, a price-to-earnings ratio of -25.85 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Monday, December 16th. The company reported ($0.18) earnings per share 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 quarter last year, the company posted ($0.11) EPS. On average, sell-side analysts expect that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Institutional Trading of Red Cat

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Red Cat during the 2nd quarter worth approximately $267,000. State Street Corp raised its holdings in Red Cat by 44.9% in 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 period. Corsair Capital Management L.P. acquired a new position in Red Cat in the third quarter valued at about $308,000. Wolverine Trading LLC acquired a new position in Red Cat in the third quarter valued at about $233,000. Finally, Centiva Capital LP purchased a new position in Red Cat during the third quarter worth about $207,000. 37.97% of the stock is currently 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.