Red Cat (NASDAQ:RCAT) Director Christopher 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 Moe sold 30,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $10.11, for a total transaction of $303,300.00. Following the transaction, the director directly owned 73,073 shares of the company's stock, valued at approximately $738,768.03. This trade represents a 29.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Red Cat Stock Down 4.3%

Red Cat stock traded down $0.47 during midday trading on Monday, hitting $10.52. The company's stock had a trading volume of 10,114,131 shares, compared to its average volume of 7,594,965. The stock's 50-day moving average price is $9.17 and its 200-day moving average price is $7.31. The company has a market capitalization of $1.05 billion, a PE ratio of -19.48 and a beta of 1.44. Red Cat Holdings, Inc. has a 12 month low of $2.31 and a 12 month high of $15.27.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RCAT shares. Wall Street Zen upgraded Red Cat from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Northland Securities set a $16.00 target price 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 stock. According to MarketBeat, the company currently has an average rating of "Strong Buy" and an average target price of $16.00.

Institutional Trading of Red Cat

Large investors have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in 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 last quarter. California State Teachers Retirement System purchased a new stake in Red Cat in the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd lifted 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 during the period. BNP Paribas Financial Markets increased its holdings in shares of Red Cat by 1,537.2% during the second quarter. BNP Paribas Financial Markets now owns 7,220 shares of the company's stock valued at $53,000 after acquiring an additional 6,779 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Red Cat in the second quarter worth $56,000. 37.97% of the stock is owned by hedge funds and other institutional investors.

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.

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