George Michael Matus Sells 72,093 Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) Stock

George Michael Matus, an insider at Red Cat Holdings, Inc. (NASDAQ:RCAT), recently sold 72,093 shares of the company's stock on December 24th. The shares were sold at an average price of $12.10 each, totaling approximately $872,325.30. After this transaction, Matus now holds 613,897 shares of Red Cat, which are valued around $7,428,153.70. This sale signifies a 10.51 percent reduction in his ownership stake. The transaction details were disclosed in a filing with the Securities and Exchange Commission (SEC), which is publicly accessible.

Recent Transactions by George Michael Matus

In addition to the recent sale, Matus has made several other transactions in Red Cat stock:

• On December 26th, he sold 309,491 shares at an average price of $14.27, amounting to $4,416,436.57.
• On December 20th, he sold 287,113 shares for an average price of $9.94, totaling $2,853,903.22.
• On December 18th, he sold 112,686 shares at an average price of $9.20, which equated to $1,036,711.20.

Stock Performance of Red Cat

Red Cat's stock experienced a decline of 8.6 percent, trading down $1.15 to $12.26 during midday trading on a recent Friday. The trading volume reached 15,418,233 shares, vastly exceeding the average volume of 2,259,390. Over the past year, Red Cat has experienced a low of $0.56 and a high of $14.91. The company currently has a market capitalization of $982.77 million and maintains a PE ratio of -26.65. Its fifty-day moving average is $6.60, while the two-hundred-day moving average stands at $3.78.

Earnings Report and Analyst Projections

Red Cat Holdings released its quarterly earnings report on December 16th, revealing a loss of ($0.18) earnings per share, which fell short of analysts' expectations of a $0.09 profit by ($0.27). The company has exhibited a negative return on equity of 66.19% and a negative net margin of 162.50%. Last year, the company reported earnings of ($0.11) per share during the same quarter. Analysts forecast that Red Cat will post an EPS of -0.39 for the current fiscal year.

Institutional Investor Activity

Various large institutional investors have recently adjusted their positions in Red Cat stock. Sanctuary Advisors LLC made a new purchase during the third quarter, investing $25,000. Sheets Smith Wealth Management also acquired a new position worth about $51,000, while United Capital Management of KS Inc. purchased approximately $108,000 worth of shares. XTX Topco Ltd significantly increased its holdings by 390.9% in the second quarter, now owning 58,895 shares valued at $68,000. Lastly, Pekin Hardy Strauss Inc. invested around $138,000 in Red Cat during the same quarter. Currently, institutional investors and hedge funds own about 37.97% of the company's stock.

About Red Cat Holdings, Inc.

Red Cat Holdings, Inc. specializes in providing a range of products, services, and solutions in the drone industry. The company operates through two main segments: Enterprise and Consumer. It has established infrastructure to manage drone fleets, operate remotely, and navigate challenging environments such as confined industrial spaces and military zones.

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