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

Red Cat (NASDAQ:RCATGet Rating) issued its quarterly earnings results on Monday. The company reported ($0.07) 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 Down 3.6 %

Shares of RCAT opened at $2.13 on Wednesday. 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 one year low of $1.46 and a one year high of $4.24. The stock has a market capitalization of $114.61 million, a price-to-earnings ratio of -8.88 and a beta of -0.13. The stock has a 50 day moving average price of $2.18 and a 200 day moving average price of $2.06.

Insider Buying and Selling

In other news, CEO Jeffrey M. Thompson purchased 11,600 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was purchased at an average cost of $2.16 per share, for a total transaction of $25,056.00. Following the completion of the transaction, the chief executive officer now 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 Securities & Exchange Commission, which is accessible through this link. 30.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Red Cat

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. acquired a new position in Red Cat during the first quarter worth $38,000. Jane Street Group LLC acquired a new position in Red Cat during the first quarter worth $52,000. Northern Trust Corp boosted its stake in Red Cat by 30.8% during the second quarter. Northern Trust Corp now owns 54,888 shares of the company’s stock worth $112,000 after buying an additional 12,940 shares during the last quarter. Virtu Financial LLC acquired a new position in Red Cat during the first quarter worth $120,000. Finally, Bank of America Corp DE lifted its stake 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 purchasing an additional 29,091 shares during the last quarter. Institutional investors and hedge funds 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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