Red Cat (NASDAQ:RCAT) Trading Down 2.1% - Should You Sell?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) dropped 2.1% on Friday . The company traded as low as $11.92 and last traded at $11.95. Approximately 4,603,406 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 6,107,435 shares. The stock had previously closed at $12.21.

Red Cat Trading Down 4.3%

The business has a fifty day simple moving average of $7.46 and a two-hundred day simple moving average of $7.46. The company has a market cap of $1.07 billion, a PE ratio of -21.64 and a beta of 1.43.

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

Insider Buying and Selling

In other Red Cat news, Director Joseph David Freedman sold 150,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $7.37, for a total value of $1,105,500.00. Following the transaction, the director owned 165,260 shares in the company, valued at $1,217,966.20. The trade was a 47.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nicholas Reyland Liuzza, Jr. sold 100,309 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $6.70, for a total value of $672,070.30. Following the sale, the director owned 387,445 shares of the company's stock, valued at approximately $2,595,881.50. The trade was a 20.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 350,309 shares of company stock valued at $2,635,570 in the last 90 days. Insiders own 15.30% of the company's stock.

Institutional Investors Weigh In On Red Cat

Institutional investors have recently made changes to their positions in the stock. Truist Financial Corp bought a new position in Red Cat in the 2nd quarter valued at about $167,000. Toth Financial Advisory Corp purchased a new position in shares of Red Cat during the 2nd quarter worth $202,000. Wealth Enhancement Advisory Services LLC bought a new stake in Red Cat in the 2nd quarter valued at $180,000. Post Resch Tallon Group Inc. purchased a new position in shares of Red Cat in the 2nd quarter worth $154,000. Finally, Goldman Sachs Group Inc. boosted its position in Red Cat by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 266,099 shares of the company's stock valued at $1,565,000 after buying an additional 59,334 shares during the period. 37.97% of the stock is currently 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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