Red Cat (NASDAQ:RCAT) Shares Down 5.4% - Time to Sell?

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

Analyst Upgrades and Downgrades

Several research analysts have commented on RCAT shares. Northland Securities began coverage on Red Cat in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $13.00 price target on the stock. Northland Capmk raised shares of Red Cat to a "strong-buy" rating in a research report on Monday, March 10th.

Red Cat Trading Down 1.8 %

The firm has a market cap of $504.28 million, a P/E ratio of -10.91 and a beta of 1.32. The company's 50 day moving average is $7.40 and its two-hundred day moving average is $6.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.60.

Insider Transactions at Red Cat

In related news, Director Joseph David Freedman sold 15,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 585,190 shares of the company's stock, valued at $8,333,105.60. This trade represents 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 hyperlink. 21.50% of the stock is owned by insiders.

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Institutional Investors Weigh In On Red Cat

Several institutional investors and hedge funds have recently bought and sold shares of RCAT. Squarepoint Ops LLC lifted its holdings in shares of 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 period. Two Sigma Advisers LP bought a new position in Red Cat during the fourth quarter worth about $362,000. Tidal Investments LLC acquired a new stake in Red Cat during the fourth quarter valued at approximately $270,000. Nomura Holdings Inc. bought a new stake in shares of Red Cat in the 4th quarter valued at approximately $180,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Red Cat in the 4th quarter valued at $1,714,000. Institutional investors own 37.97% of the company's stock.

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.