Red Cat (NASDAQ:RCAT) Stock Price Down 3.6% – Should You Sell?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s stock price fell 3.6% during trading on Wednesday . The company traded as low as $12.39 and last traded at $12.42. 8,493,619 shares changed hands during trading, a decline of 35% from the average session volume of 13,161,823 shares. The stock had previously closed at $12.88.

Analysts Set New Price Targets

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

Red Cat Trading Down 10.3%

The business has a fifty day moving average price of $12.15 and a two-hundred day moving average price of $10.53. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -26.48 and a beta of 1.50.

Institutional Trading of Red Cat

Several hedge funds and other institutional investors have recently modified their holdings of RCAT. Arizona State Retirement System increased its position in Red Cat by 3.0% in the 4th quarter. Arizona State Retirement System now owns 29,311 shares of the company’s stock worth $232,000 after purchasing an additional 855 shares during the last quarter. VestGen Advisors LLC grew its stake in shares of Red Cat by 4.9% in the 2nd quarter. VestGen Advisors LLC now owns 23,625 shares of the company’s stock valued at $172,000 after buying an additional 1,097 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Red Cat by 0.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,084 shares of the company’s stock worth $1,325,000 after buying an additional 1,147 shares during the last quarter. Advisory Services Network LLC raised its position in Red Cat by 5.3% during the third quarter. Advisory Services Network LLC now owns 30,200 shares of the company’s stock valued at $313,000 after acquiring an additional 1,507 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in Red Cat by 17.4% in the third quarter. AlphaQuest LLC now owns 10,839 shares of the company’s stock valued at $112,000 after acquiring an additional 1,608 shares during the last quarter. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

About Red Cat

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.