Joseph David Freedman Sells 150,000 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) Director Joseph David Freedman sold 150,000 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $7.37, for a total transaction of $1,105,500.00. Following the sale, the director directly owned 165,260 shares in the company, valued at $1,217,966.20. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Red Cat Stock Down 4.1%

NASDAQ RCAT traded down $0.29 during trading hours on Monday, hitting $6.79. The company's stock had a trading volume of 3,629,812 shares, compared to its average volume of 5,648,115. The stock has a fifty day moving average of $6.85 and a 200 day moving average of $7.58. Red Cat Holdings, Inc. has a twelve month low of $1.13 and a twelve month high of $15.27. The firm has a market capitalization of $624.54 million, a P/E ratio of -12.57 and a beta of 1.43.

Red Cat (NASDAQ:RCAT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.17). On average, analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On Red Cat

Several large investors have recently bought and sold shares of RCAT. Waddell & Associates LLC bought a new stake in Red Cat in the fourth quarter valued at approximately $159,643,000. Rockefeller Capital Management L.P. bought a new stake in Red Cat in the fourth quarter valued at approximately $6,628,000. Captrust Financial Advisors bought a new stake in Red Cat in the fourth quarter valued at approximately $4,262,000. Apis Capital Advisors LLC increased its position in shares of Red Cat by 61.7% during the fourth quarter. Apis Capital Advisors LLC now owns 650,000 shares of the company's stock worth $8,352,000 after acquiring an additional 248,000 shares in the last quarter. Finally, GW Henssler & Associates Ltd. bought a new stake in shares of Red Cat during the first quarter worth $1,297,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Northland Capmk upgraded Red Cat to a "strong-buy" rating in a research report on Monday, March 10th. Northland Securities assumed coverage on Red Cat in a research report on Tuesday, March 11th. They set an "outperform" rating and a $13.00 target price for the company.

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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