State Street Corp Purchases 68,800 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT)

State Street Corp grew its holdings in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 44.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 221,958 shares of the company’s stock after buying an additional 68,800 shares during the quarter. State Street Corp’s holdings in Red Cat were worth $564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RCAT. Renaissance Technologies LLC purchased a new position in Red Cat during the 2nd quarter valued at $267,000. Corsair Capital Management L.P. bought a new stake in shares of Red Cat during the third quarter worth $308,000. Centiva Capital LP purchased a new stake in shares of Red Cat during the third quarter valued at $207,000. XTX Topco Ltd grew its holdings in shares of Red Cat by 390.9% in the second quarter. XTX Topco Ltd now owns 58,895 shares of the company’s stock worth $68,000 after purchasing an additional 46,897 shares during the last quarter. Finally, PVG Asset Management Corp purchased a new position in Red Cat in the 2nd quarter worth about $63,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Red Cat Price Performance

Shares of RCAT opened at $13.20 on Friday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -28.70 and a beta of 1.33. Red Cat Holdings, Inc. has a 1-year low of $0.56 and a 1-year high of $14.91. The company has a 50-day moving average of $7.80 and a 200 day moving average of $4.28.

Red Cat (NASDAQ:RCAT) last posted 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 net margin of 162.50% and a negative return on equity of 66.19%. During the same quarter in the prior year, the company posted ($0.11) EPS. On average, equities analysts anticipate that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Red Cat

In other news, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $8.29, for a total value of $2,726,813.12. Following the completion of the sale, the director now owns 681,072 shares in the company, valued at approximately $5,646,086.88. The trade was a 32.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider George Michael Matus sold 112,686 shares of the 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 transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold a total of 1,930,441 shares of company stock valued at $21,099,751 in the last ninety days. Corporate insiders own 21.50% of the company’s stock.

Red Cat 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.