Red Cat (NASDAQ:RCAT) Trading Down 4.5% – What’s Next?

Red Cat Holdings, Inc. (NASDAQ:RCAT)’s share price dropped 4.5% on Monday . The stock traded as low as $5.83 and last traded at $5.88. Approximately 2,812,042 shares changed hands during trading, a decline of 33% from the average daily volume of 4,220,430 shares. The stock had previously closed at $6.16.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RCAT shares. Northland Securities started coverage on shares of Red Cat in a report on Tuesday, March 11th. They set an “outperform” rating and a $13.00 price objective for the company. Northland Capmk upgraded Red Cat to a “strong-buy” rating in a report on Monday, March 10th.

Red Cat Stock Down 3.2 %

The company has a market cap of $510.46 million, a PE ratio of -11.04 and a beta of 1.34. The stock’s 50 day moving average price is $6.87 and its 200-day moving average price is $7.09. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 1.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC grew its position in Red Cat by 23.0% during the 4th quarter. Squarepoint Ops LLC now owns 15,496 shares of the company’s stock worth $199,000 after acquiring an additional 2,902 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Red Cat in the fourth quarter worth approximately $362,000. Tidal Investments LLC purchased a new position in shares of Red Cat in the fourth quarter worth $270,000. Nomura Holdings Inc. bought a new stake in Red Cat during the 4th quarter valued at $180,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Red Cat during the 4th quarter valued at $1,714,000. 37.97% of the stock is owned by institutional investors.

About Red Cat

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.