Red Cat (NASDAQ:RCAT) Shares Down 5.1% - What's Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s share price dropped 5.1% during mid-day trading on Tuesday . The company traded as low as $8.94 and last traded at $8.94. Approximately 3,746,219 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 6,213,466 shares. The stock had previously closed at $9.42.

Red Cat Stock Performance

The company's 50 day simple moving average is $7.56 and its 200 day simple moving average is $7.38. The stock has a market cap of $824.42 million, a price-to-earnings ratio of -16.56 and a beta of 1.43.

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

Insiders Place Their Bets

In other Red Cat news, Director Joseph David Freedman sold 150,000 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $7.37, for a total value of $1,105,500.00. Following the sale, the director owned 165,260 shares of the company's stock, valued at $1,217,966.20. The trade was a 47.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nicholas Reyland Liuzza, Jr. sold 100,309 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $6.70, for a total transaction of $672,070.30. Following the transaction, the director owned 387,445 shares in the company, valued at approximately $2,595,881.50. This trade represents a 20.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 350,309 shares of company stock worth $2,635,570 in the last ninety days. 15.30% of the stock is currently owned by insiders.

Institutional Trading of Red Cat

A number of large investors have recently bought and sold shares of RCAT. Bank of Montreal Can acquired a new stake in Red Cat during the 4th quarter valued at $166,000. Charles Schwab Investment Management Inc. increased its position in Red Cat by 63.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,059 shares of the company's stock worth $386,000 after buying an additional 11,661 shares during the period. LPL Financial LLC increased its position in Red Cat by 497.2% during the 4th quarter. LPL Financial LLC now owns 74,008 shares of the company's stock worth $951,000 after buying an additional 61,615 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Red Cat during the 4th quarter worth $1,368,000. Finally, Commonwealth Equity Services LLC bought a new position in Red Cat during the 4th quarter worth $388,000. 37.97% of the stock is owned by 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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