Red Cat (NASDAQ:RCAT) Shares Down 3.9% – Here’s What Happened

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) were down 3.9% during trading on Monday . The company traded as low as $7.82 and last traded at $8.45. Approximately 3,619,034 shares changed hands during trading, a decline of 64% from the average daily volume of 9,988,533 shares. The stock had previously closed at $8.79.

Red Cat Stock Up 0.3 %

The company has a market capitalization of $707.01 million, a PE ratio of -16.33 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43. The stock’s 50 day moving average is $10.02 and its 200 day moving average is $5.52.

Red Cat (NASDAQ:RCAT) last issued its quarterly 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 return on equity of 96.00% and a negative net margin of 232.62%. During the same quarter in the prior year, the business posted ($0.11) earnings per share. On average, sell-side analysts anticipate that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Insider Transactions at Red Cat

In other Red Cat news, Director Joseph David Freedman sold 15,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $14.24, for a total transaction of $213,600.00. Following the completion of the sale, the director now owns 585,190 shares of the company’s stock, valued at $8,333,105.60. This represents a 2.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $8.29, for a total transaction of $2,726,813.12. Following the sale, the director now directly owns 681,072 shares of the company’s stock, valued at $5,646,086.88. The trade was a 32.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,930,441 shares of company stock valued at $21,099,751 in the last quarter. Insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Red Cat

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new stake in Red Cat during the 3rd quarter valued at $25,000. Sheets Smith Wealth Management purchased a new stake in shares of Red Cat in the 3rd quarter worth about $51,000. United Capital Management of KS Inc. purchased a new stake in shares of Red Cat in the 3rd quarter worth about $108,000. Regency Capital Management Inc. DE purchased a new stake in shares of Red Cat in the 4th quarter worth about $130,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Red Cat in the 4th quarter worth about $134,000. Hedge funds and other institutional investors 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.