Red Cat (NASDAQ:RCAT) Stock Price Down 5.6% - What's Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) fell 5.6% during mid-day trading on Monday . The company traded as low as $10.63 and last traded at $10.64. 5,260,719 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 6,173,395 shares. The stock had previously closed at $11.27.

Red Cat Trading Down 16.5%

The stock has a market capitalization of $865.53 million, a P/E ratio of -17.43 and a beta of 1.43. The stock's 50-day moving average price is $7.56 and its two-hundred day moving average price is $7.38.

Red Cat (NASDAQ:RCAT - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.17). On average, equities research analysts predict 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 Red Cat news, Director Joseph David Freedman sold 150,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $7.37, for a total transaction of $1,105,500.00. Following the completion of the transaction, the director directly owned 165,260 shares in the company, valued at approximately $1,217,966.20. This represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Reyland Liuzza, Jr. sold 100,000 shares of the stock in a transaction dated 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 $3,324,278.10. This trade represents a 20.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 350,309 shares of company stock worth $2,635,570. 15.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Red Cat

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in shares of Red Cat by 407.0% during 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 bought a new position in Red Cat in the fourth quarter worth about $48,000. SBI Securities Co. Ltd. grew its position in shares of Red Cat by 104.4% during the first quarter. SBI Securities Co. Ltd. now owns 9,467 shares of the company's stock worth $56,000 after acquiring an additional 4,835 shares during the last quarter. Summit Trail Advisors LLC acquired a new stake in Red Cat in the first quarter worth about $59,000. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in Red Cat by 30.0% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company's stock worth $83,000 after acquiring an additional 3,250 shares during the period. 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.

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