Red Cat (NASDAQ:RCAT) Trading Down 6.2% - Should You Sell?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s share price was down 6.2% on Tuesday . The company traded as low as $9.81 and last traded at $9.69. Approximately 3,551,335 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 5,960,178 shares. The stock had previously closed at $10.33.

Red Cat Stock Up 0.0%

The stock has a 50 day simple moving average of $7.10 and a 200 day simple moving average of $7.43. The company has a market cap of $950.57 million, a price-to-earnings ratio of -19.14 and a beta of 1.43.

Red Cat (NASDAQ:RCAT - Get Free Report) last issued its quarterly earnings data 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, equities research analysts expect that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Insider Transactions at Red Cat

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 transaction 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 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 value of $672,070.30. Following the transaction, the director owned 387,445 shares in the company, valued at approximately $2,595,881.50. This represents a 20.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 350,309 shares of company stock worth $2,635,570. 15.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Waddell & Associates LLC acquired a new position in shares of Red Cat in the fourth quarter worth about $159,643,000. Vanguard Group Inc. lifted its stake in shares of Red Cat by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company's stock worth $32,197,000 after acquiring an additional 207,727 shares in the last quarter. Apis Capital Advisors LLC lifted its stake in shares of Red Cat by 4.9% in the first quarter. Apis Capital Advisors LLC now owns 682,000 shares of the company's stock worth $4,010,000 after acquiring an additional 32,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Red Cat by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 602,596 shares of the company's stock worth $7,747,000 after acquiring an additional 10,594 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Red Cat in the fourth quarter worth about $6,628,000. Institutional investors and hedge funds own 37.97% of the company's stock.

About Red Cat

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.