Red Cat (NASDAQ:RCAT) Shares Gap Down – Time to Sell?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT) gapped down before the market opened on Monday . The stock had previously closed at $12.47, but opened at $11.98. Red Cat shares last traded at $12.5610, with a volume of 1,394,424 shares changing hands.

Analyst Upgrades and Downgrades

RCAT has been the topic of a number of analyst reports. LADENBURG THALM/SH SH raised shares of Red Cat to a “strong-buy” rating in a research note on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Cat in a research report on Thursday, January 22nd. Northland Securities set a $22.00 target price on Red Cat in a research report on Tuesday, January 20th. Finally, Needham & Company LLC upped their price target on Red Cat from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $19.00.

Red Cat Trading Up 1.4%

The company has a market cap of $1.51 billion, a PE ratio of -28.53 and a beta of 1.50. The company has a fifty day simple moving average of $11.64 and a two-hundred day simple moving average of $10.44.

Institutional Investors Weigh In On Red Cat

A number of large investors have recently modified their holdings of RCAT. Arizona State Retirement System increased its holdings in shares of Red Cat by 3.0% in the 4th 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 last quarter. VestGen Advisors LLC boosted 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 acquiring an additional 1,097 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Red Cat by 0.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 167,084 shares of the company’s stock worth $1,325,000 after purchasing an additional 1,147 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Red Cat by 5.3% during the third quarter. Advisory Services Network LLC now owns 30,200 shares of the company’s stock worth $313,000 after purchasing an additional 1,507 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Red Cat by 17.4% in the 3rd quarter. AlphaQuest LLC now owns 10,839 shares of the company’s stock valued at $112,000 after purchasing an additional 1,608 shares during the last quarter. 37.97% of the stock is owned by hedge funds and other institutional investors.

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.