Insider Selling: Red Cat (NASDAQ:RCAT) Director Sells 10,000 Shares of Stock

Key Points

• Christopher Moe, a director at Red Cat Holdings, sold 10,000 shares of stock for $109,100, reducing his ownership stake by 15.85% to 53,073 shares.
• Red Cat's stock price increased by 1.9% to $10.35 after trading, with a market capitalization of $1.22 billion and a fifty-two week price range of $2.41 to $15.27.
• Institutional investors have shown strong interest in Red Cat, with several increasing their stakes, leading to institutional ownership of nearly 38% of the company's stock.

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) Director Christopher Moe sold 10,000 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $10.91, for a total transaction of $109,100.00. Following the completion of the sale, the director owned 53,073 shares in the company, valued at approximately $579,026.43. The trade was a 15.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Red Cat Stock Up 1.9%

RCAT traded up $0.19 during trading on Tuesday, reaching $10.35. 9,961,227 shares of the company's stock were exchanged, compared to its average volume of 8,145,009. Red Cat Holdings, Inc. has a fifty-two week low of $2.41 and a fifty-two week high of $15.27. The business has a 50 day moving average price of $9.49 and a 200 day moving average price of $7.72. The company has a market capitalization of $1.22 billion, a P/E ratio of -19.17 and a beta of 1.44.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RCAT shares. Wall Street Zen upgraded shares of Red Cat from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Northland Securities set a $16.00 price target on shares of Red Cat in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Strong Buy" and a consensus price target of $16.00.

Institutional Investors Weigh In On Red Cat

Several institutional investors and hedge funds have recently made changes to their positions in RCAT. California State Teachers Retirement System acquired a new stake in shares of Red Cat in the 2nd quarter valued at $34,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Red Cat by 28,681.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,044 shares of the company's stock valued at $44,000 after purchasing an additional 6,023 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Red Cat by 407.0% in the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock valued at $44,000 after purchasing an additional 2,727 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Red Cat by 1,537.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,220 shares of the company's stock valued at $53,000 after purchasing an additional 6,779 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Red Cat by 104.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company's stock valued at $56,000 after purchasing an additional 4,835 shares in the last quarter. Institutional investors and hedge funds 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.

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