Red Cat (NASDAQ:RCAT) Trading Down 7.5% – What’s Next?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) fell 7.5% during mid-day trading on Friday . The company traded as low as $15.63 and last traded at $16.06. 13,645,610 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 17,599,568 shares. The stock had previously closed at $17.36.

Analyst Ratings Changes

Several equities analysts recently commented on RCAT shares. Needham & Company LLC boosted their price target on Red Cat from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Wall Street Zen cut shares of Red Cat from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. LADENBURG THALM/SH SH upgraded shares of Red Cat to a “strong-buy” rating in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research note on Thursday. Finally, Northland Securities set a $22.00 price objective on shares of Red Cat in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $19.00.

Red Cat Stock Performance

The company has a market capitalization of $1.92 billion, a PE ratio of -36.50 and a beta of 1.48. The company has a 50 day moving average price of $9.42 and a 200 day moving average price of $9.91.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The company had revenue of $9.65 million for the quarter, compared to analysts’ expectations of $8.18 million. On average, equities analysts forecast that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of Red Cat

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in Red Cat by 687.7% during the 4th quarter. Farther Finance Advisors LLC now owns 7,562 shares of the company’s stock worth $60,000 after buying an additional 6,602 shares during the last quarter. Tyche Wealth Partners LLC acquired a new stake in shares of Red Cat during the 4th quarter valued at approximately $118,000. Harbor Capital Advisors Inc. bought a new position in Red Cat during the fourth quarter worth $272,000. CoreCap Advisors LLC boosted its holdings in Red Cat by 24.0% in the fourth quarter. CoreCap Advisors LLC now owns 10,850 shares of the company’s stock worth $86,000 after purchasing an additional 2,099 shares during the period. Finally, Byrne Asset Management LLC bought a new stake in Red Cat during the fourth quarter valued at $175,000. 37.97% of the stock is owned by institutional investors.

Red Cat Company Profile

Red Cat Holdings, Inc (NASDAQ: RCAT) is a technology holding company that develops and delivers advanced robotics, autonomy, and sensing solutions for defense, national security, public safety and commercial customers. Headquartered in American Fork, Utah, the company brings together a portfolio of specialized operating businesses focused on unmanned aerial systems (UAS), mission management software, precision mapping sensors and engineering services.

Through its UAS segment, Red Cat designs and manufactures small to medium-sized fixed-wing and vertical-takeoff drones that support intelligence, surveillance and reconnaissance (ISR) missions.