Red Cat (NASDAQ:RCAT) Stock Price Down 2% – Time to Sell?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) fell 2% during mid-day trading on Monday . The stock traded as low as $15.25 and last traded at $15.54. 11,340,378 shares changed hands during trading, a decline of 30% from the average session volume of 16,187,603 shares. The stock had previously closed at $15.86.

Wall Street Analyst Weigh In

RCAT has been the subject of several analyst reports. LADENBURG THALM/SH SH upped their target price on Red Cat from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Cat in a research note on Thursday, January 22nd. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Red Cat in a report on Monday, March 2nd. Finally, Northland Securities set a $22.00 price objective on shares of Red Cat in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.33.

Red Cat Stock Performance

The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -35.32 and a beta of 1.53. The business has a fifty day moving average price of $13.45 and a 200 day moving average price of $10.95.

Institutional Investors Weigh In On Red Cat

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of Red Cat by 181.1% in the 3rd quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock worth $28,000 after purchasing an additional 1,720 shares during the period. Montag A & Associates Inc. grew its holdings 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 worth $34,000 after purchasing an additional 2,760 shares during the period. California State Teachers Retirement System acquired a new stake in Red Cat during the 2nd quarter worth approximately $34,000. Global Retirement Partners LLC purchased a new position in Red Cat in the third quarter valued at approximately $36,000. Finally, N.E.W. Advisory Services LLC raised its holdings in 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 buying an additional 3,323 shares during the period. 37.97% of the stock is currently owned by institutional investors and hedge funds.

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.