Red Cat (NASDAQ:RCAT) Stock Price Down 5.4% – Should You Sell?

Red Cat Holdings, Inc. (NASDAQ:RCAT) shares were down 5.4% during mid-day trading on Wednesday . The company traded as low as $5.75 and last traded at $5.83. Approximately 830,591 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 3,914,611 shares. The stock had previously closed at $6.16.

Wall Street Analysts Forecast Growth

RCAT has been the topic of a number of analyst reports. Northland Securities initiated coverage on shares of Red Cat in a research note on Tuesday, March 11th. They set an “outperform” rating and a $13.00 target price on the stock. Northland Capmk upgraded shares of Red Cat to a “strong-buy” rating in a report on Monday, March 10th.

Red Cat Trading Up 3.1 %

The firm has a market cap of $513.70 million, a price-to-earnings ratio of -11.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43. The company has a 50 day moving average price of $7.45 and a 200 day moving average price of $6.72.

Insider Buying and Selling at Red Cat

In other Red Cat news, Director Joseph David Freedman sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $14.24, for a total value of $213,600.00. Following the sale, the director now owns 585,190 shares of the company’s stock, valued at $8,333,105.60. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RCAT. Silver Oak Securities Incorporated lifted its stake in Red Cat by 502.3% during the 4th quarter. Silver Oak Securities Incorporated now owns 60,755 shares of the company’s stock worth $856,000 after acquiring an additional 50,668 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Red Cat during the fourth quarter worth about $423,000. Centiva Capital LP acquired a new stake in shares of Red Cat during the third quarter worth about $207,000. Wolverine Trading LLC purchased a new position in shares of Red Cat in the third quarter valued at approximately $233,000. Finally, State Street Corp grew its holdings in shares of Red Cat by 44.9% in the third quarter. State Street Corp now owns 221,958 shares of the company’s stock valued at $564,000 after purchasing an additional 68,800 shares in 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 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.