Red Cat (NASDAQ:RCAT) Stock Price Down 7.7% – What’s Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s stock price was down 7.7% during mid-day trading on Tuesday . The company traded as low as $10.81 and last traded at $11.50. Approximately 12,545,976 shares changed hands during trading, a decline of 19% from the average daily volume of 15,532,479 shares. The stock had previously closed at $12.46.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RCAT shares. Roth Mkm started coverage on Red Cat in a report on Monday, June 1st. They set a “buy” rating and a $25.00 price target on the stock. LADENBURG THALM/SH SH raised Red Cat to a “strong-buy” rating in a report on Wednesday, May 6th. Needham & Company LLC upped their price target on Red Cat from $16.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Wall Street Zen raised Red Cat from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, UBS Group started coverage on Red Cat in a report on Wednesday, May 27th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Red Cat presently has a consensus rating of “Buy” and a consensus target price of $21.40.

Red Cat Stock Down 7.8%

The business has a fifty day simple moving average of $11.83 and a two-hundred day simple moving average of $11.70. The company has a market cap of $1.41 billion, a P/E ratio of -16.41 and a beta of 1.23.

Red Cat (NASDAQ:RCAT) last posted its earnings results on Thursday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). Red Cat had a negative net margin of 138.36% and a negative return on equity of 35.86%. The firm had revenue of $15.47 million during the quarter, compared to the consensus estimate of $17.63 million. Red Cat’s revenue for the quarter was up 849.1% compared to the same quarter last year. On average, equities analysts predict that Red Cat Holdings, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in 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 acquiring an additional 855 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Red Cat by 0.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,084 shares of the company’s stock worth $1,325,000 after buying an additional 1,147 shares during the period. 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 worth $313,000 after buying an additional 1,507 shares during the period. Western Wealth Management LLC raised its stake in shares of Red Cat by 4.5% in the first quarter. Western Wealth Management LLC now owns 36,722 shares of the company’s stock worth $481,000 after buying an additional 1,570 shares during the period. Finally, 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 worth $112,000 after buying an additional 1,608 shares during the period. Institutional investors 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.