Red Cat (NASDAQ:RCAT) Trading Down 10.3% – Time to Sell?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s stock price traded down 10.3% during trading on Friday . The company traded as low as $11.24 and last traded at $11.65. 9,494,558 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 12,964,710 shares. The stock had previously closed at $12.99.

Analyst Ratings Changes

A number of equities analysts have recently commented on RCAT shares. Needham & Company LLC lifted their target price on Red Cat from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Northland Securities set a $22.00 price target on Red Cat in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Cat in a research note on Thursday, January 22nd. Finally, LADENBURG THALM/SH SH raised shares of Red Cat to a “strong-buy” rating in a research note on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $19.00.

Red Cat Trading Down 10.3%

The company’s 50 day moving average is $12.08 and its 200 day moving average is $10.52. The company has a market cap of $1.39 billion, a PE ratio of -26.48 and a beta of 1.50.

Institutional Trading of Red Cat

A number of large investors have recently modified their holdings of RCAT. IFP Advisors Inc grew its stake in Red Cat by 181.1% in the third quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after purchasing an additional 1,720 shares in the last quarter. Montag A & Associates Inc. lifted its holdings in shares of Red Cat by 552.0% in the 3rd quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock worth $34,000 after buying an additional 2,760 shares during the period. California State Teachers Retirement System bought a new position in shares of Red Cat during the 2nd quarter worth $34,000. Global Retirement Partners LLC purchased a new position in shares of Red Cat during the third quarter valued at $36,000. Finally, N.E.W. Advisory Services LLC raised its holdings in shares of Red Cat by 163.5% in the fourth quarter. N.E.W. Advisory Services LLC now owns 5,356 shares of the company’s stock valued at $42,000 after acquiring an additional 3,323 shares in the last quarter. Hedge funds and other institutional investors own 37.97% of the company’s stock.

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.