Red Cat (NASDAQ:RCAT) Shares Up 4.3% - Still a Buy?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s share price traded up 4.3% during mid-day trading on Wednesday . The company traded as high as $9.51 and last traded at $9.37. 3,373,361 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 6,243,282 shares. The stock had previously closed at $8.98.

Red Cat Stock Performance

The firm has a market capitalization of $914.83 million, a PE ratio of -18.43 and a beta of 1.43. The business's 50 day moving average price is $7.74 and its 200-day moving average price is $7.38.

Red Cat (NASDAQ:RCAT - Get Free Report) last posted its 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). As a group, analysts anticipate that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Insider Buying and Selling at Red Cat

In other news, Director Joseph David Freedman sold 150,000 shares of the firm'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 completion of the sale, the director owned 165,260 shares in the company, valued at approximately $1,217,966.20. This trade represents a 47.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nicholas Reyland Liuzza, Jr. sold 100,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was 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 $3,324,278.10. This trade represents a 20.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 350,309 shares of company stock valued at $2,635,570 in the last 90 days. Company insiders own 15.30% of the company's stock.

Institutional Trading of Red Cat

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in shares of Red Cat by 407.0% in the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock valued at $44,000 after purchasing an additional 2,727 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Red Cat in the fourth quarter valued at about $48,000. SBI Securities Co. Ltd. lifted its stake in shares of Red Cat by 104.4% in the first quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company's stock valued at $56,000 after purchasing an additional 4,835 shares during the period. CIBC Private Wealth Group LLC purchased a new position in Red Cat during the 4th quarter valued at about $118,000. Finally, Summit Trail Advisors LLC purchased a new position in Red Cat during the 1st quarter valued at about $59,000. Institutional investors and hedge funds 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.