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

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

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 transaction 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 value of $1,036,711.20.

Red Cat Stock Down 8.6 %

Red Cat stock opened at $12.26 on Friday. The business has a 50 day moving average price of $6.79 and a two-hundred day moving average price of $3.86. Red Cat Holdings, Inc. has a 12 month low of $0.56 and a 12 month high of $14.91. The stock has a market cap of $982.77 million, a price-to-earnings ratio of -26.65 and a beta of 1.33.

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

Hedge Funds Weigh In On Red Cat

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in Red Cat in the third quarter valued at about $25,000. Sheets Smith Wealth Management bought a new stake in shares of Red Cat in the 3rd quarter valued at approximately $51,000. PVG Asset Management Corp acquired a new position in shares of Red Cat in the 2nd quarter worth approximately $63,000. XTX Topco Ltd lifted its position in shares of Red Cat by 390.9% during the 2nd quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after buying an additional 46,897 shares during the period. Finally, United Capital Management of KS Inc. acquired a new stake in Red Cat in the 3rd quarter valued at $108,000. 37.97% of the stock is owned by 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.