Red Cat (NASDAQ:RCAT) Sees Strong Trading Volume - What's Next?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) saw strong trading volume on Monday . 7,607,281 shares were traded during trading, an increase of 29% from the previous session's volume of 5,884,412 shares.The stock last traded at $9.20 and had previously closed at $8.57.

Red Cat Price Performance

The stock has a market cap of $860.07 million, a P/E ratio of -17.32 and a beta of 1.43. The business's 50 day simple moving average is $7.01 and its 200 day simple moving average is $7.44.

Red Cat (NASDAQ:RCAT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.17). Research analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Insider Activity at Red Cat

In other news, Director Nicholas Reyland Liuzza, Jr. sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $8.58, for a total transaction of $858,000.00. Following the completion of the sale, the director owned 387,445 shares of the company's stock, valued at approximately $3,324,278.10. This trade represents a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph David Freedman sold 150,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $7.37, for a total transaction of $1,105,500.00. Following the sale, the director directly owned 165,260 shares of the company's stock, valued at approximately $1,217,966.20. The trade was a 47.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 350,309 shares of company stock valued at $2,635,570. Company insiders own 15.30% of the company's stock.

Institutional Trading of Red Cat

Hedge funds and other institutional investors have recently modified their holdings of the stock. Waddell & Associates LLC acquired a new stake in Red Cat during the 4th quarter worth $159,643,000. Vanguard Group Inc. grew its holdings in Red Cat by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company's stock worth $32,197,000 after acquiring an additional 207,727 shares during the period. Apis Capital Advisors LLC grew its holdings in Red Cat by 4.9% during the 1st quarter. Apis Capital Advisors LLC now owns 682,000 shares of the company's stock worth $4,010,000 after acquiring an additional 32,000 shares during the period. Geode Capital Management LLC grew its holdings in Red Cat by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 602,596 shares of the company's stock worth $7,747,000 after acquiring an additional 10,594 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new stake in Red Cat during the 4th quarter worth $6,628,000. Institutional investors and hedge funds own 37.97% of the company's stock.

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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