State Street Corp Acquires 68,800 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT)

State Street Corp increased its holdings in shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) by 44.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,958 shares of the company’s stock after purchasing an additional 68,800 shares during the quarter. State Street Corp owned approximately 0.29% of Red Cat worth $564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new stake in Red Cat during the 2nd quarter valued at approximately $267,000. Corsair Capital Management L.P. purchased a new position in Red Cat during the third quarter valued at $308,000. Centiva Capital LP bought a new stake in Red Cat in the 3rd quarter valued at $207,000. PVG Asset Management Corp purchased a new stake in Red Cat in the 2nd quarter worth $63,000. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Red Cat during the 3rd quarter valued at about $138,000. Institutional investors own 37.97% of the company’s stock.

Red Cat Trading Up 10.6 %

Shares of RCAT stock opened at $13.20 on Friday. The stock’s 50-day moving average price is $7.80 and its 200-day moving average price is $4.28. Red Cat Holdings, Inc. has a 12-month low of $0.56 and a 12-month high of $14.91. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -28.70 and a beta of 1.33.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings data on Monday, December 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.27). Red Cat had a negative return on equity of 66.19% and a negative net margin of 162.50%. During the same period in the previous year, the firm earned ($0.11) EPS. As a group, research analysts predict that Red Cat Holdings, Inc. will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Red Cat

In related news, insider George Michael Matus sold 112,686 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $9.20, for a total value of $1,036,711.20. Following the completion of the transaction, the insider now owns 973,103 shares of the company’s stock, valued at approximately $8,952,547.60. This trade represents a 10.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nicholas Reyland Liuzza, Jr. sold 328,928 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $8.29, for a total value of $2,726,813.12. Following the sale, the director now directly owns 681,072 shares in the company, valued at $5,646,086.88. The trade was a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,930,441 shares of company stock worth $21,099,751 over the last 90 days. 21.50% of the stock is owned by insiders.

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.