Red Cat (NASDAQ:RCAT) Director Christopher R. Moe Sells 30,000 Shares

Key Points

• Christopher Moe, Director of Red Cat Holdings, sold 30,000 shares of the company at an average price of $10.11, reducing his ownership by 29.11%.
• Red Cat's stock has experienced a 4.3% decrease, with current trading at $10.52 and a significant trading volume of over 10 million shares.
• Analyst ratings for Red Cat are largely positive, with an average rating of "Strong Buy" and a target price set at $16.00.

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) Director Christopher R. Moe sold 30,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $10.11, for a total value of $303,300.00. Following the sale, the director owned 73,073 shares of the company's stock, valued at $738,768.03. The trade was a 29.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Red Cat Price Performance

Shares of NASDAQ RCAT traded down $1.23 during mid-day trading on Thursday, reaching $10.04. The company had a trading volume of 26,486,921 shares, compared to its average volume of 7,223,891. The stock has a fifty day moving average of $9.41 and a two-hundred day moving average of $7.40. Red Cat Holdings, Inc. has a 12-month low of $2.31 and a 12-month high of $15.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RCAT. Bank of America Corp DE lifted its position 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 worth $44,000 after acquiring an additional 2,727 shares during the period. California State Teachers Retirement System acquired a new position in shares of Red Cat in the second quarter valued at $34,000. Caitong International Asset Management Co. Ltd lifted its position in Red Cat by 28,681.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 6,044 shares of the company's stock worth $44,000 after purchasing an additional 6,023 shares during the period. BNP Paribas Financial Markets boosted its stake in Red Cat by 1,537.2% during the second quarter. BNP Paribas Financial Markets now owns 7,220 shares of the company's stock worth $53,000 after buying an additional 6,779 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in Red Cat in the 2nd quarter valued at $56,000. Institutional investors own 37.97% of the company's stock.

Analyst Upgrades and Downgrades

RCAT has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Red Cat from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Northland Securities set a $16.00 price target on Red Cat in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Strong Buy" and a consensus target price of $16.00.

Red Cat Company 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.