Red Cat (NASDAQ:RCAT) Trading Down 5.8% - Time to Sell?

Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report)'s stock price traded down 5.8% during trading on Friday . The company traded as low as $6.98 and last traded at $7.05. 5,205,901 shares were traded during mid-day trading, a decline of 5% from the average session volume of 5,505,259 shares. The stock had previously closed at $7.48.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RCAT. Northland Capmk upgraded Red Cat to a "strong-buy" rating in a research note on Monday, March 10th. Northland Securities started coverage on shares of Red Cat in a research note on Tuesday, March 11th. They set an "outperform" rating and a $13.00 price target for the company.

Red Cat Trading Down 5.8%

The company has a market cap of $648.00 million, a price-to-earnings ratio of -13.06 and a beta of 1.40. The company's 50 day moving average price is $6.57 and its 200 day moving average price is $7.67.

Red Cat (NASDAQ:RCAT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.17). Red Cat had a negative net margin of 232.62% and a negative return on equity of 98.48%. Sell-side analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RCAT. Twin Tree Management LP purchased a new stake in shares of Red Cat during the 4th quarter worth $28,000. Bank of America Corp DE boosted its position in Red Cat by 407.0% during the fourth quarter. Bank of America Corp DE now owns 3,397 shares of the company's stock worth $44,000 after purchasing an additional 2,727 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Red Cat by 23.0% in the fourth quarter. Squarepoint Ops LLC now owns 15,496 shares of the company's stock valued at $199,000 after purchasing an additional 2,902 shares during the last quarter. United Capital Management of KS Inc. grew its holdings in Red Cat by 7.4% in the fourth quarter. United Capital Management of KS Inc. now owns 45,650 shares of the company's stock valued at $587,000 after purchasing an additional 3,150 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its position in shares of Red Cat by 30.0% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 14,070 shares of the company's stock valued at $83,000 after buying an additional 3,250 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 engages in the provision of various products, services, and solutions to the drone industry. The company operates through two segments: Enterprise and Consumer. It built infrastructure to manages drone fleets and fly, and provide services remotely, navigate confined industrial interior spaces and dangerous military environment.

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