Red Cat (NASDAQ:RCAT) Stock Price Down 8.2% - Time to Sell?

Key Points

• RCAT shares fell 8.2% intraday, trading as low as $13.70 and last at $14.10 on volume of 32.42M shares (a 105% increase from average), down from a prior close of $15.36.
• Analysts are mixed but lean positive: MarketBeat shows a consensus rating of "Moderate Buy" with an average price target of $19.33, based on one Strong Buy, two Buys and one Sell (targets cited at $16, $20 and $22).
• Red Cat is a defense-focused robotics and UAS company with a market cap of $1.68 billion, a negative trailing P/E (-32.05), and roughly 38% institutional ownership.

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) traded down 8.2% during mid-day trading on Monday . The company traded as low as $13.70 and last traded at $14.10. 32,420,031 shares were traded during trading, an increase of 105% from the average session volume of 15,807,660 shares. The stock had previously closed at $15.36.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $16.00 price target on shares of Red Cat in a report on Monday, March 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Red Cat in a research note on Thursday, January 22nd. LADENBURG THALM/SH SH lifted their target price 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, Northland Securities set a $22.00 price objective on shares of Red Cat in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $19.33.

Red Cat Trading Down 8.2%

The stock has a market cap of $1.68 billion, a P/E ratio of -32.05 and a beta of 1.53. The firm's 50-day simple moving average is $12.73 and its 200 day simple moving average is $10.75.

Institutional Investors Weigh In On Red Cat

Several institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc increased its stake in 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 during the period. Montag A & Associates Inc. raised its holdings in Red Cat by 552.0% during the third 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 in the last quarter. California State Teachers Retirement System acquired a new stake in Red Cat in the second quarter worth approximately $34,000. Global Retirement Partners LLC bought a new position in Red Cat during the 3rd quarter valued at $36,000. Finally, N.E.W. Advisory Services LLC boosted its stake in Red Cat by 163.5% during the 4th quarter. N.E.W. Advisory Services LLC now owns 5,356 shares of the company's stock valued at $42,000 after purchasing an additional 3,323 shares in the last quarter. Institutional investors and hedge funds own 37.97% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.