Red Cat (NASDAQ:RCAT) Trading Down 11.3% – What’s Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT) traded down 11.3% during mid-day trading on Monday . The company traded as low as $13.88 and last traded at $14.25. 12,555,767 shares were traded during trading, a decline of 27% from the average session volume of 17,292,572 shares. The stock had previously closed at $16.06.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Northland Securities set a $22.00 price target on shares of Red Cat in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Red Cat in a report on Thursday. Needham & Company LLC upped their price target on Red Cat from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a research report on Thursday, December 18th. Finally, Wall Street Zen downgraded shares of Red Cat from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $19.00.

Red Cat Stock Performance

The firm has a 50-day moving average price of $9.42 and a 200-day moving average price of $9.93.

Red Cat (NASDAQ:RCAT) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The company had revenue of $9.65 million for the quarter, compared to the consensus estimate of $8.18 million. As a group, sell-side analysts predict that Red Cat Holdings, Inc. will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On Red Cat

Several large investors have recently modified their holdings of the stock. VestGen Advisors LLC lifted its stake in Red Cat by 4.9% in the second quarter. VestGen Advisors LLC now owns 23,625 shares of the company’s stock valued at $172,000 after purchasing an additional 1,097 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Red Cat by 5.3% in the third quarter. Advisory Services Network LLC now owns 30,200 shares of the company’s stock valued at $313,000 after buying an additional 1,507 shares during the period. AlphaQuest LLC raised its stake in shares of Red Cat by 17.4% in the third quarter. AlphaQuest LLC now owns 10,839 shares of the company’s stock valued at $112,000 after buying an additional 1,608 shares during the period. IFP Advisors Inc lifted its position 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 during the last quarter. Finally, Toth Financial Advisory Corp grew its stake in shares of Red Cat by 7.2% during the 3rd quarter. Toth Financial Advisory Corp now owns 29,800 shares of the company’s stock worth $308,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other 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.