Red Cat (NASDAQ:RCAT) Stock Price Down 5.4% – Time to Sell?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s share price fell 5.4% during trading on Wednesday . The company traded as low as $5.75 and last traded at $5.83. 830,591 shares were traded during trading, a decline of 79% from the average session volume of 3,914,611 shares. The stock had previously closed at $6.16.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RCAT shares. Northland Securities started coverage on Red Cat in a report on Tuesday, March 11th. They issued an “outperform” rating and a $13.00 price objective for the company. Northland Capmk raised Red Cat to a “strong-buy” rating in a research report on Monday, March 10th.

Red Cat Price Performance

The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $7.63 and its 200 day moving average is $6.73. The firm has a market capitalization of $495.29 million, a price-to-earnings ratio of -10.69 and a beta of 1.32.

Insider Buying and Selling

In related news, Director Nicholas Reyland Liuzza, Jr. sold 20,000 shares of Red Cat stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $13.92, for a total transaction of $278,400.00. Following the completion of the transaction, the director now owns 461,072 shares of the company’s stock, valued at $6,418,122.24. This trade represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph David Freedman sold 15,000 shares of the stock in a transaction dated 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 approximately $8,333,105.60. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 373,247 shares of company stock valued at $5,310,158 over the last 90 days. 21.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Waddell & Associates LLC bought a new position in shares of Red Cat during the 4th quarter worth approximately $159,643,000. Vanguard Group Inc. boosted its holdings in Red Cat by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 2,505,613 shares of the company’s stock worth $32,197,000 after purchasing an additional 207,727 shares during the last quarter. Apis Capital Advisors LLC grew its position in Red Cat by 61.7% in the 4th quarter. Apis Capital Advisors LLC now owns 650,000 shares of the company’s stock worth $8,352,000 after purchasing an additional 248,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Red Cat by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 602,596 shares of the company’s stock worth $7,747,000 after buying an additional 10,594 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Red Cat in the 4th quarter worth approximately $6,628,000. 37.97% of the stock is owned by institutional investors and hedge funds.

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.