Red Cat (NASDAQ:RCAT) Director Christopher Moe Sells 10,000 Shares

Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Christopher Moe sold 10,000 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $8.90, for a total transaction of $89,000.00. Following the sale, the director directly owned 103,073 shares of the company’s stock, valued at approximately $917,349.70. This represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Red Cat Stock Performance

NASDAQ RCAT opened at $10.52 on Tuesday. Red Cat Holdings, Inc. has a 1 year low of $2.31 and a 1 year high of $15.27. The business’s fifty day moving average is $9.24 and its two-hundred day moving average is $7.34. The stock has a market capitalization of $1.05 billion, a P/E ratio of -19.48 and a beta of 1.44.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wall Street Zen raised Red Cat from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Northland Securities set a $16.00 price objective on shares of Red Cat in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Strong Buy” and a consensus price target of $16.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RCAT. AWM Investment Company Inc. lifted its stake in Red Cat by 15.3% in the 2nd quarter. AWM Investment Company Inc. now owns 2,037,616 shares of the company’s stock worth $14,834,000 after acquiring an additional 269,942 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Red Cat by 142.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,656,720 shares of the company’s stock valued at $12,063,000 after purchasing an additional 974,121 shares during the period. Captrust Financial Advisors lifted its position in shares of Red Cat by 30.9% in the second quarter. Captrust Financial Advisors now owns 820,279 shares of the company’s stock worth $5,972,000 after purchasing an additional 193,853 shares in the last quarter. Apis Capital Advisors LLC boosted its holdings in shares of Red Cat by 4.9% during the first quarter. Apis Capital Advisors LLC now owns 682,000 shares of the company’s stock worth $4,010,000 after purchasing an additional 32,000 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Red Cat by 125.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 517,061 shares of the company’s stock valued at $3,764,000 after purchasing an additional 287,802 shares in the last quarter. Hedge funds and other institutional investors 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.