Red Cat (NASDAQ:RCAT) Stock Price Down 1.3% – Should You Sell?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s share price was down 1.3% on Wednesday . The company traded as low as $15.12 and last traded at $15.87. Approximately 18,832,591 shares were traded during trading, an increase of 12% from the average daily volume of 16,873,734 shares. The stock had previously closed at $16.08.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RCAT. LADENBURG THALM/SH SH boosted their price target on Red Cat from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a report on Thursday, January 22nd. Wall Street Zen raised Red Cat from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Needham & Company LLC upped their target price on Red Cat from $16.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Finally, Northland Securities set a $22.00 price target on Red Cat in a research note on Tuesday, January 20th. Two 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.com, the stock presently has an average rating of “Hold” and an average price target of $20.67.

Red Cat Stock Down 9.4%

The company has a market cap of $1.54 billion, a PE ratio of -16.91 and a beta of 1.53. The firm’s 50-day moving average is $14.07 and its 200-day moving average is $11.34.

Red Cat (NASDAQ:RCAT) last posted its quarterly earnings data on Wednesday, March 18th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Red Cat had a negative net margin of 176.96% and a negative return on equity of 38.86%. The firm had revenue of $26.24 million for the quarter, compared to the consensus estimate of $24.50 million. As a group, equities research analysts anticipate that Red Cat Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Cat

A number of institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in shares of Red Cat by 181.1% during the 3rd quarter. IFP Advisors Inc now owns 2,670 shares of the company’s stock valued at $28,000 after buying an additional 1,720 shares in the last quarter. Montag A & Associates Inc. increased its stake 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 acquiring an additional 2,760 shares in the last quarter. California State Teachers Retirement System purchased a new position in Red Cat during the 2nd quarter valued at about $34,000. Global Retirement Partners LLC bought a new stake in Red Cat during the third quarter worth about $36,000. Finally, N.E.W. Advisory Services LLC boosted its stake in Red Cat by 163.5% during the fourth quarter. N.E.W. Advisory Services LLC now owns 5,356 shares of the company’s stock worth $42,000 after acquiring an additional 3,323 shares in the last quarter. 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.