George Michael Matus Sells 309,491 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) insider George Michael Matus sold 309,491 shares of Red Cat stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $14.27, for a total transaction of $4,416,436.57. Following the sale, the insider now directly owns 304,406 shares in the company, valued at $4,343,873.62. The trade was a 50.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, December 24th, George Michael Matus sold 72,093 shares of Red Cat stock. The stock was sold at an average price of $12.10, for a total transaction of $872,325.30.
• On Friday, December 20th, George Michael Matus sold 287,113 shares of Red Cat stock. The stock was sold at an average price of $9.94, for a total value of $2,853,903.22.
• 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 Trading Down 8.6 %

RCAT opened at $12.26 on Friday. The company has a market cap of $982.77 million, a price-to-earnings ratio of -26.65 and a beta of 1.33. The stock has a fifty day simple moving average of $6.79 and a two-hundred day simple moving average of $3.88. Red Cat Holdings, Inc. has a 12-month low of $0.56 and a 12-month high of $14.91.

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

Institutional Trading of Red Cat

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

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.