Geode Capital Management LLC Decreases Stock Holdings in Red Cat Holdings, Inc. (NASDAQ:RCAT)

Geode Capital Management LLC lessened its stake in Red Cat Holdings, Inc. (NASDAQ:RCAT) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 592,002 shares of the company’s stock after selling 13,854 shares during the quarter. Geode Capital Management LLC owned approximately 0.79% of Red Cat worth $1,504,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in RCAT. Centiva Capital LP purchased a new stake in shares of Red Cat during the third quarter worth about $207,000. Wolverine Trading LLC acquired a new stake in Red Cat in the 3rd quarter worth about $233,000. Corsair Capital Management L.P. purchased a new stake in Red Cat during the 3rd quarter worth approximately $308,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Red Cat during the third quarter valued at approximately $138,000. Finally, State Street Corp raised its holdings in shares of Red Cat by 44.9% during the third quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after acquiring an additional 68,800 shares during the last quarter. 37.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Red Cat news, insider George Michael Matus sold 112,686 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $9.20, for a total value of $1,036,711.20. Following the completion of the sale, the insider now directly owns 973,103 shares of the company’s stock, valued at $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 available through this hyperlink. Also, Director Joseph David Freedman sold 15,000 shares of Red Cat stock in a transaction on Monday, December 30th. The stock was sold at an average price of $14.24, for a total value of $213,600.00. Following the transaction, the director now owns 585,190 shares in the company, valued at approximately $8,333,105.60. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,930,441 shares of company stock worth $21,099,751. 21.50% of the stock is owned by insiders.

Red Cat Price Performance

Shares of NASDAQ:RCAT opened at $11.83 on Thursday. Red Cat Holdings, Inc. has a 1 year low of $0.56 and a 1 year high of $15.27. The firm has a market capitalization of $948.30 million, a PE ratio of -25.72 and a beta of 1.32. The business’s 50 day moving average price is $8.40 and its 200-day moving average price is $4.55.

Red Cat (NASDAQ:RCAT) last announced its earnings results 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 quarter last year, the firm posted ($0.11) EPS. As a group, analysts expect that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

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.