Jeffrey M. Thompson Sells 28,756 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT) CEO Jeffrey M. Thompson sold 28,756 shares of Red Cat stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $13.97, for a total value of $401,721.32. Following the completion of the transaction, the chief executive officer now directly owns 13,014,449 shares in the company, valued at $181,811,852.53. This trade represents a 0.22 % 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 link.

Red Cat Stock Performance

Shares of Red Cat stock opened at $13.41 on Friday. Red Cat Holdings, Inc. has a 52-week low of $0.56 and a 52-week high of $14.91. The company’s 50 day moving average price is $6.60 and its 200-day moving average price is $3.78. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -29.15 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings results on Monday, December 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 posted ($0.11) earnings per share. As a group, equities research analysts forecast that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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