N.E.W. Advisory Services LLC Acquires Shares of 32,913 Red Cat Holdings, Inc. (NASDAQ:RCAT)

N.E.W. Advisory Services LLC purchased a new position in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 32,913 shares of the company's stock, valued at approximately $423,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RCAT. Renaissance Technologies LLC acquired a new position in Red Cat during the second quarter worth $267,000. Sheets Smith Wealth Management purchased a new position in shares of Red Cat during the third quarter valued at approximately $51,000. United Capital Management of KS Inc. purchased a new stake in shares of Red Cat in the third quarter valued at $108,000. Pekin Hardy Strauss Inc. purchased a new position in Red Cat during the third quarter worth about $138,000. Finally, Corsair Capital Management L.P. purchased a new stake in Red Cat in the third quarter valued at approximately $308,000. Hedge funds and other institutional investors own 37.97% of the company's stock.

Insider Activity at Red Cat

In related news, insider George Michael Matus sold 309,491 shares of the company's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $14.27, for a total transaction of $4,416,436.57. Following the completion of the transaction, the insider now directly owns 304,406 shares in the company, valued at $4,343,873.62. This represents a 50.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph David Freedman sold 15,000 shares of the business's 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 transaction, the director now directly owns 585,190 shares of the company's stock, valued at approximately $8,333,105.60. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,930,441 shares of company stock worth $21,099,751. 21.50% of the stock is currently owned by corporate insiders.

Red Cat Trading Up 14.2 %

Shares of RCAT traded up $1.26 during mid-day trading on Tuesday, reaching $10.08. The company had a trading volume of 7,657,869 shares, compared to its average volume of 10,126,845. Red Cat Holdings, Inc. has a fifty-two week low of $0.56 and a fifty-two week high of $15.27. The firm has a fifty day simple moving average of $10.00 and a 200-day simple moving average of $5.57. The stock has a market cap of $807.61 million, a price-to-earnings ratio of -18.55 and a beta of 1.24. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30.

Red Cat (NASDAQ:RCAT - Get Free Report) last posted its 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 96.00% and a negative net margin of 232.62%. During the same quarter last year, the company posted ($0.11) EPS. On average, sell-side analysts anticipate that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Red Cat 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.