Red Cat (NASDAQ:RCAT) Director Sells $89,300.00 in Stock

Key Points

• Christopher Moe, a director at Red Cat Holdings, sold 10,000 shares of the company's stock for $89,300, which is a 7.15% decrease in his ownership stake.
• The stock price of Red Cat Holdings recently increased by 0.8%, reaching $9.82, with a market cap of approximately $979.64 million.
• Research analysts have a positive outlook on Red Cat, with an average rating of "Strong Buy" and a price target of $16.00.

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) Director Christopher Moe sold 10,000 shares of Red Cat stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $8.93, for a total transaction of $89,300.00. Following the completion of the sale, the director directly owned 129,906 shares of the company's stock, valued at approximately $1,160,060.58. This trade represents a 7.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Red Cat Trading Up 0.8%

NASDAQ:RCAT traded up $0.08 during trading hours on Friday, reaching $9.82. The company had a trading volume of 6,001,950 shares, compared to its average volume of 7,302,565. The firm's 50 day moving average price is $8.60 and its 200-day moving average price is $7.29. The firm has a market cap of $979.64 million, a price-to-earnings ratio of -18.19 and a beta of 1.44. Red Cat Holdings, Inc. has a 52 week low of $2.31 and a 52 week high of $15.27.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RCAT. Geode Capital Management LLC lifted its stake in shares of Red Cat by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 602,596 shares of the company's stock valued at $7,747,000 after buying an additional 10,594 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Red Cat by 446.5% during the 4th quarter. Wells Fargo & Company MN now owns 10,465 shares of the company's stock valued at $134,000 after buying an additional 8,550 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Red Cat during the 4th quarter valued at $166,000. Invesco Ltd. purchased a new position in shares of Red Cat during the 4th quarter valued at $301,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Red Cat during the 4th quarter valued at $478,000. Hedge funds and other institutional investors own 37.97% of the company's stock.

Wall Street Analysts Forecast Growth

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

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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