Red Cat (NASDAQ:RCAT) Announces Quarterly Earnings Results

Red Cat (NASDAQ:RCATGet Rating) announced its earnings results 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 return on equity of 14.41% and a negative net margin of 181.83%.

Red Cat Stock Performance

Shares of NASDAQ RCAT traded down $0.08 during trading on Wednesday, hitting $2.13. The company had a trading volume of 159,434 shares, compared to its average volume of 986,042. The stock has a 50 day simple moving average of $2.18 and a 200 day simple moving average of $2.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.52 and a current ratio of 10.23. Red Cat has a 12 month low of $1.46 and a 12 month high of $4.24. The firm has a market capitalization of $114.61 million, a P/E 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 price of $2.16 per share, with a total value of $25,056.00. Following the completion of the purchase, the chief executive officer now directly owns 12,699,068 shares of the company’s stock, valued at $27,429,986.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 30.50% of the company’s stock.

Institutional Trading of Red Cat

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Red Cat by 7.5% during 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 period. State Street Corp increased its stake in Red Cat by 61.1% in the 1st quarter. State Street Corp now owns 109,058 shares of the company’s stock worth $220,000 after acquiring an additional 41,358 shares during the last quarter. Bank of America Corp DE increased its stake in Red Cat by 55.9% in the 1st quarter. Bank of America Corp DE now owns 81,144 shares of the company’s stock worth $164,000 after acquiring an additional 29,091 shares during the last quarter. Virtu Financial LLC bought a new stake in Red Cat in the 1st quarter worth approximately $120,000. Finally, Northern Trust Corp increased its stake in Red Cat by 30.8% in the 2nd quarter. Northern Trust Corp now owns 54,888 shares of the company’s stock worth $112,000 after acquiring an additional 12,940 shares during the last quarter. Institutional investors own 8.98% of the company’s stock.

Red Cat Company Profile

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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.

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Earnings History for Red Cat (NASDAQ:RCAT)

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