Red Cat (NASDAQ:RCAT) Director Sells $161,260.14 in Stock

Key Points

• Red Cat Holdings, Inc. Director Christopher Moe sold 16,833 shares of stock for approximately $161,260.14, resulting in a 12.96% decrease in his ownership stake.
• The stock price of Red Cat traded at $9.82 recently, with analyses showing a consensus rating of "Strong Buy" and a target price of $16.00.
• Institutional investors have shown growing interest, with Geode Capital Management increasing its holdings by 142.7% in the second quarter and several other firms acquiring significant amounts of stock.

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) Director Christopher Moe sold 16,833 shares of Red Cat stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $9.58, for a total transaction of $161,260.14. Following the sale, the director directly owned 113,073 shares of the company's stock, valued at $1,083,239.34. This represents a 12.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Red Cat Trading Up 0.8%

Shares of Red Cat stock traded up $0.08 on Friday, hitting $9.82. 6,001,950 shares of the company traded hands, compared to its average volume of 7,302,565. The stock's 50 day moving average price is $8.60 and its 200-day moving average price is $7.29. Red Cat Holdings, Inc. has a 52 week low of $2.31 and a 52 week high of $15.27. The company has a market cap of $979.64 million, a PE ratio of -18.19 and a beta of 1.44.

Analysts Set New Price Targets

RCAT has been the topic of several research reports. Wall Street Zen raised 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 objective on shares of Red Cat in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Strong Buy" and an average target price of $16.00.

Hedge Funds Weigh In On Red Cat

Several institutional investors and hedge funds have recently bought and sold shares of RCAT. Geode Capital Management LLC grew its holdings in Red Cat by 142.7% in the second quarter. Geode Capital Management LLC now owns 1,656,720 shares of the company's stock worth $12,063,000 after purchasing an additional 974,121 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Red Cat during the fourth quarter valued at $4,262,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Red Cat by 125.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 517,061 shares of the company's stock valued at $3,764,000 after buying an additional 287,802 shares during the last quarter. AWM Investment Company Inc. grew its holdings in shares of Red Cat by 15.3% during the second quarter. AWM Investment Company Inc. now owns 2,037,616 shares of the company's stock valued at $14,834,000 after buying an additional 269,942 shares during the last quarter. Finally, Apis Capital Advisors LLC grew its holdings 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 valued at $8,352,000 after buying an additional 248,000 shares during the last quarter. 37.97% of the stock is owned by hedge funds and other institutional investors.

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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