Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s share price fell 2.1% during trading on Friday . The company traded as low as $9.58 and last traded at $9.69. 1,701,263 shares traded hands during trading, a decline of 78% from the average session volume of 7,650,420 shares. The stock had previously closed at $9.90.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised Red Cat from a "sell" rating to a "hold" rating in a research note on Saturday.
Check Out Our Latest Stock Report on Red Cat
Red Cat Price Performance
The stock's 50 day moving average is $7.86 and its 200-day moving average is $7.30. The company has a market capitalization of $870.13 million, a P/E ratio of -17.52 and a beta of 1.43.
Red Cat (NASDAQ:RCAT - Get Free Report) last released 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). On average, equities research analysts anticipate that Red Cat Holdings, Inc. will post -0.5 EPS for the current year.
Insider Buying and Selling at Red Cat
In related news, Director Joseph David Freedman sold 150,000 shares of Red Cat stock in a transaction dated 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 of the company's stock, valued at $1,217,966.20. This trade represents a 47.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Nicholas Reyland Liuzza, Jr. sold 100,309 shares of the business'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 sale, the director directly owned 387,445 shares in the company, valued at $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 350,309 shares of company stock valued at $2,635,570 in the last three months. Insiders own 15.30% of the company's stock.
Hedge Funds Weigh In On Red Cat
Several large investors have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in shares of Red Cat by 407.0% in the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock worth $44,000 after buying an additional 2,727 shares during the last quarter. SBI Securities Co. Ltd. grew 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 worth $56,000 after acquiring an additional 4,835 shares during the last quarter. Summit Trail Advisors LLC bought a new position in shares of Red Cat during the first quarter valued at $59,000. U.S. Capital Wealth Advisors LLC increased its holdings in shares of 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 valued at $83,000 after acquiring an additional 3,250 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new position in Red Cat in the 1st quarter worth about $89,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.
About Red Cat
(
Get Free Report)
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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