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 R. Moe sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $8.93, for a total value of $89,300.00. Following the completion of the transaction, the director owned 129,906 shares in the company, valued at $1,160,060.58. This trade represents a 7.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Red Cat Price Performance

NASDAQ RCAT traded down $0.68 on Tuesday, hitting $9.39. 8,633,183 shares of the company's stock were exchanged, compared to its average volume of 7,359,480. The firm's 50-day moving average price is $8.66 and its two-hundred day moving average price is $7.26. Red Cat Holdings, Inc. has a fifty-two week low of $2.31 and a fifty-two week high of $15.27. The firm has a market cap of $936.75 million, a price-to-earnings ratio of -17.39 and a beta of 1.44.

Analyst Ratings Changes

RCAT has been the subject of several research analyst reports. Northland Securities set a $16.00 price objective on Red Cat in a research note on Friday, August 15th. Wall Street Zen upgraded Red Cat from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Strong Buy" and an average price target of $16.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RCAT. Bank of Montreal Can purchased a new position in shares of Red Cat in the 4th quarter worth $166,000. Invesco Ltd. purchased a new position in shares of Red Cat in the 4th quarter worth $301,000. Wells Fargo & Company MN raised its position in shares of Red Cat by 446.5% in the 4th quarter. Wells Fargo & Company MN now owns 10,465 shares of the company's stock worth $134,000 after buying an additional 8,550 shares during the period. Barclays PLC raised its position in shares of Red Cat by 1,090.4% in the 4th quarter. Barclays PLC now owns 104,632 shares of the company's stock worth $1,345,000 after buying an additional 95,842 shares during the period. Finally, Tidal Investments LLC purchased a new position in shares of Red Cat in the 4th quarter worth $270,000. Hedge funds and other institutional investors own 37.97% of the company's stock.

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.