Red Cat (NASDAQ:RCAT) Shares Down 7.1% – Time to Sell?

Red Cat Holdings, Inc. (NASDAQ:RCAT) was down 7.1% on Friday . The stock traded as low as $8.42 and last traded at $8.4450. Approximately 1,149,152 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 8,635,492 shares. The stock had previously closed at $9.09.

Analysts Set New Price Targets

Several equities analysts recently commented on RCAT shares. Needham & Company LLC reduced their price target on Red Cat from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH raised shares of Red Cat to a “strong-buy” rating in a research report on Thursday, December 18th. Finally, Wall Street Zen lowered shares of Red Cat from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Red Cat presently has an average rating of “Buy” and an average price target of $14.00.

Red Cat Stock Performance

The firm has a fifty day simple moving average of $8.58 and a 200-day simple moving average of $9.27. The company has a market capitalization of $990.77 million, a PE ratio of -18.86 and a beta of 1.48.

Red Cat (NASDAQ:RCAT) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The firm had revenue of $9.65 million for the quarter, compared to analyst estimates of $8.18 million. As a group, research analysts anticipate that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Insider Buying and Selling at Red Cat

In other news, Director Christopher R. Moe sold 10,000 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $10.91, for a total value of $109,100.00. Following the completion of the sale, the director owned 53,073 shares of the company’s stock, valued at approximately $579,026.43. The trade was a 15.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.30% of the company’s stock.

Institutional Trading of Red Cat

Several hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc lifted its holdings in Red Cat by 181.1% during the 3rd quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after buying an additional 1,720 shares during the last quarter. Montag A & Associates Inc. raised its position in shares of Red Cat by 552.0% during the 3rd quarter. Montag A & Associates Inc. now owns 3,260 shares of the company’s stock valued at $34,000 after acquiring an additional 2,760 shares in the last quarter. California State Teachers Retirement System acquired a new stake in shares of Red Cat during the 2nd quarter valued at approximately $34,000. Global Retirement Partners LLC bought a new position in Red Cat during the third quarter worth $36,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Red Cat by 28,681.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 6,044 shares of the company’s stock worth $44,000 after purchasing an additional 6,023 shares during the period. 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.