Red Cat Holdings, Inc. (NASDAQ:RCAT) CRO Geoffrey Wayne Hitchcock Sells 113,823 Shares

Red Cat Holdings, Inc. (NASDAQ:RCAT) CRO Geoffrey Wayne Hitchcock sold 113,823 shares of Red Cat stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $10.44, for a total value of $1,188,312.12. Following the completion of the transaction, the executive now directly owns 558,325 shares of the company’s stock, valued at $5,828,913. This represents a 16.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Red Cat Trading Up 12.8 %

RCAT opened at $13.41 on Friday. Red Cat Holdings, Inc. has a 1-year low of $0.56 and a 1-year high of $14.91. The stock has a market capitalization of $1.07 billion, a PE ratio of -29.15 and a beta of 1.33. The firm has a 50-day moving average price of $6.60 and a two-hundred day moving average price of $3.78.

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

Hedge Funds Weigh In On Red Cat

Several large investors have recently made changes to their positions in the company. Centiva Capital LP acquired a new stake in Red Cat in the third quarter worth about $207,000. Wolverine Trading LLC acquired a new stake in shares of Red Cat during the 3rd quarter worth approximately $233,000. Corsair Capital Management L.P. bought a new stake in shares of Red Cat during the third quarter worth approximately $308,000. Pekin Hardy Strauss Inc. acquired a new position in Red Cat in the third quarter valued at approximately $138,000. Finally, Renaissance Technologies LLC bought a new position in Red Cat in the second quarter valued at approximately $267,000. Institutional investors and hedge funds own 37.97% of the company’s stock.

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.