Red Cat (NASDAQ:RCAT) Stock Price Down 3.9% – What’s Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s stock price traded down 3.9% during mid-day trading on Thursday . The stock traded as low as $7.74 and last traded at $7.76. 4,545,463 shares changed hands during trading, a decline of 6% from the average session volume of 4,838,922 shares. The stock had previously closed at $8.07.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Northland Securities assumed coverage on Red Cat in a research report on Tuesday, March 11th. They set an “outperform” rating and a $13.00 target price on the stock. Northland Capmk raised Red Cat to a “strong-buy” rating in a research report on Monday, March 10th.

Red Cat Stock Performance

The company has a 50-day moving average price of $6.15 and a two-hundred day moving average price of $7.77. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $741.87 million, a PE ratio of -15.11 and a beta of 1.40.

Red Cat (NASDAQ:RCAT) last posted its earnings results on Wednesday, May 14th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.17). Red Cat had a negative return on equity of 96.00% and a negative net margin of 232.62%. Analysts predict that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Twin Tree Management LP bought a new position in shares of Red Cat in the 4th quarter worth approximately $28,000. Bank of America Corp DE raised its position in shares of Red Cat by 407.0% in the 4th quarter. Bank of America Corp DE now owns 3,397 shares of the company’s stock worth $44,000 after acquiring an additional 2,727 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Red Cat by 23.0% in the 4th quarter. Squarepoint Ops LLC now owns 15,496 shares of the company’s stock worth $199,000 after acquiring an additional 2,902 shares in the last quarter. United Capital Management of KS Inc. raised its position in shares of Red Cat by 7.4% in the 4th quarter. United Capital Management of KS Inc. now owns 45,650 shares of the company’s stock worth $587,000 after acquiring an additional 3,150 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its position in shares of Red Cat by 30.0% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company’s stock worth $83,000 after acquiring an additional 3,250 shares in the last quarter. Institutional investors own 37.97% of the company’s stock.

About Red Cat

Red Cat Holdings, Inc engages in the provision of various products, services, and solutions to the drone industry. The company operates through two segments: Enterprise and Consumer. It built infrastructure to manages drone fleets and fly, and provide services remotely, navigate confined industrial interior spaces and dangerous military environment.