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

Key Points

• Red Cat Holdings (NASDAQ:RCAT) shares fell about 2% to $15.54 on Monday, trading as low as $15.25 on volume of 11.34 million shares—roughly 30% below the average session volume.
• Analyst coverage is mixed: two Buy ratings and one Sell produce an average Hold rating with a consensus price target of $19.33, while individual targets range from $16 to $22.
• The company has a market cap of $1.86 billion and a negative trailing P/E (-35.32), and institutional investors own about 38% of the stock.

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

Analysts Set New Price Targets

RCAT has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 price target on shares of Red Cat in a report on Monday, March 2nd. Northland Securities set a $22.00 price objective on shares of Red Cat in a research note on Tuesday, January 20th. LADENBURG THALM/SH SH lifted their price objective on Red Cat from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Red Cat in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Red Cat currently has an average rating of "Hold" and a consensus price target of $19.33.

Red Cat Stock Performance

The stock has a market cap of $1.86 billion, a PE ratio of -35.32 and a beta of 1.53. The business has a 50-day moving average of $13.45 and a 200 day moving average of $10.95.

Institutional Investors Weigh In On Red Cat

Hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of Red Cat by 3.0% in the fourth quarter. Arizona State Retirement System now owns 29,311 shares of the company's stock valued at $232,000 after buying an additional 855 shares during the last quarter. VestGen Advisors LLC boosted its position in Red Cat by 4.9% during the second quarter. VestGen Advisors LLC now owns 23,625 shares of the company's stock worth $172,000 after acquiring an additional 1,097 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Red Cat by 0.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,084 shares of the company's stock worth $1,325,000 after acquiring an additional 1,147 shares during the period. Advisory Services Network LLC grew its stake in Red Cat by 5.3% in the 3rd quarter. Advisory Services Network LLC now owns 30,200 shares of the company's stock worth $313,000 after acquiring an additional 1,507 shares during the period. Finally, AlphaQuest LLC raised its holdings in Red Cat by 17.4% in the 3rd 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.

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.

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