Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Sells $2,160,000.00 in Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Nicholas Reyland Liuzza, Jr. sold 200,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.80, for a total value of $2,160,000.00. Following the completion of the sale, the director now owns 481,072 shares in the company, valued at $5,195,577.60. This trade represents a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Red Cat Stock Performance

Shares of NASDAQ:RCAT opened at $12.26 on Friday. The company has a market capitalization of $982.77 million, a PE ratio of -26.65 and a beta of 1.33. The company’s fifty day moving average is $6.79 and its 200-day moving average is $3.88. Red Cat Holdings, Inc. has a 52 week low of $0.56 and a 52 week high of $14.91.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data 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 return on equity of 66.19% and a negative net margin of 162.50%. During the same quarter in the prior year, the firm earned ($0.11) EPS. On average, analysts forecast that Red Cat Holdings, Inc. will post -0.39 EPS for the current year.

Institutional Investors Weigh In On Red Cat

A number of large investors have recently bought and sold shares of RCAT. Centiva Capital LP acquired a new position in Red Cat in the third quarter worth $207,000. Wolverine Trading LLC bought a new position in shares of Red Cat in the third quarter valued at about $233,000. Corsair Capital Management L.P. acquired a new position in Red Cat during the 3rd quarter worth about $308,000. Pekin Hardy Strauss Inc. bought a new stake in Red Cat during the 3rd quarter worth about $138,000. Finally, Renaissance Technologies LLC acquired a new stake in Red Cat in the 2nd quarter valued at about $267,000. 37.97% of the stock is currently owned by institutional investors.

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.