Red Cat (NASDAQ:RCAT) Announces Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Red Cat (NASDAQ:RCATGet Rating) announced its quarterly earnings data on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04), MarketWatch Earnings reports. Red Cat had a negative net margin of 181.83% and a negative return on equity of 14.41%.

Red Cat Stock Performance

NASDAQ:RCAT opened at $2.13 on Wednesday. The company’s 50-day moving average is $2.18 and its two-hundred day moving average is $2.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.23 and a quick ratio of 9.52. Red Cat has a 1-year low of $1.46 and a 1-year high of $4.24. The firm has a market capitalization of $114.61 million, a price-to-earnings ratio of -8.88 and a beta of -0.13.

Insider Transactions at Red Cat

In related news, CEO Jeffrey M. Thompson acquired 11,600 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were purchased at an average cost of $2.16 per share, for a total transaction of $25,056.00. Following the acquisition, the chief executive officer now owns 12,699,068 shares in the company, valued at approximately $27,429,986.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 30.50% of the company’s stock.

Institutional Investors Weigh In On Red Cat

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Red Cat by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 1,237,895 shares of the company’s stock valued at $2,500,000 after purchasing an additional 86,777 shares during the last quarter. State Street Corp increased its position in shares of Red Cat by 61.1% in the 1st quarter. State Street Corp now owns 109,058 shares of the company’s stock valued at $220,000 after purchasing an additional 41,358 shares during the last quarter. Bank of America Corp DE grew its position in shares of Red Cat by 55.9% in the 1st quarter. Bank of America Corp DE now owns 81,144 shares of the company’s stock valued at $164,000 after buying an additional 29,091 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Red Cat in the 1st quarter valued at $120,000. Finally, Northern Trust Corp grew its position in shares of Red Cat by 30.8% in the 2nd quarter. Northern Trust Corp now owns 54,888 shares of the company’s stock valued at $112,000 after buying an additional 12,940 shares during the last quarter. 8.98% of the stock is owned by hedge funds and other institutional investors.

About Red Cat

(Get Rating)

Red Cat Holdings, Inc, through its subsidiaries, provides various products, services, and solutions to the drone industry. It offers commercial and government unmanned aerial vehicle technology for reconnaissance, public safety, and inspection applications. The company also provides First Person View (FPV) video goggles; and software and hardware solutions that enable drones to complete inspection services in locations where global positioning systems are not available.

Further Reading

Earnings History for Red Cat (NASDAQ:RCAT)

Receive News & Ratings for Red Cat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Cat and related companies with MarketBeat.com's FREE daily email newsletter.