Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) Director Joseph David Freedman sold 50,000 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the sale, the director now directly owns 635,190 shares in the company, valued at approximately $6,351,900. This represents a 7.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NASDAQ RCAT traded up $1.66 during mid-day trading on Friday, reaching $10.75. 22,959,006 shares of the company's stock were exchanged, compared to its average volume of 2,022,484. The firm has a market capitalization of $811.25 million, a price-to-earnings ratio of -23.37 and a beta of 1.33. The business has a fifty day simple moving average of $5.91 and a 200 day simple moving average of $3.48. Red Cat Holdings, Inc. has a twelve month low of $0.56 and a twelve month high of $12.57.
Red Cat (NASDAQ:RCAT - Get Free Report) last released 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 66.19% and a negative net margin of 162.50%. During the same period last year, the business posted ($0.11) EPS. Equities research analysts predict that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of RCAT. Sanctuary Advisors LLC bought a new position in shares of Red Cat during the third quarter worth about $25,000. Wolverine Trading LLC bought a new position in shares of Red Cat during the third quarter worth about $233,000. State Street Corp grew its holdings in shares of Red Cat by 44.9% during the third quarter. State Street Corp now owns 221,958 shares of the company's stock worth $564,000 after buying an additional 68,800 shares in the last quarter. Centiva Capital LP bought a new position in shares of Red Cat during the third quarter worth about $207,000. Finally, Corsair Capital Management L.P. bought a new position in shares of Red Cat during the third quarter worth about $308,000. Institutional investors and hedge funds own 37.97% of the company's stock.
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.
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