Red Cat (NASDAQ:RCAT) Stock Price Down 3.9% - Should You Sell?

Shares of Red Cat Holdings, Inc. (NASDAQ:RCAT - Get Free Report) traded down 3.9% during trading on Friday . The company traded as low as $8.22 and last traded at $8.32. 752,355 shares were traded during mid-day trading, a decline of 50% from the average session volume of 1,505,936 shares. The stock had previously closed at $8.66.

Red Cat Trading Down 5.7 %

The stock's 50 day moving average price is $4.82 and its 200 day moving average price is $2.95. The firm has a market cap of $616.51 million, a PE ratio of -17.76 and a beta of 1.33.

Red Cat (NASDAQ:RCAT - Get Free Report) last released its quarterly earnings data on Monday, September 23rd. The company reported ($0.17) EPS for the quarter. Red Cat had a negative net margin of 162.50% and a negative return on equity of 66.19%. The company had revenue of $2.78 million during the quarter. Analysts forecast that Red Cat Holdings, Inc. will post -0.39 earnings per share for the current year.

Institutional Investors Weigh In On Red Cat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Corsair Capital Management L.P. purchased a new position in Red Cat in the 3rd quarter valued at about $308,000. Pekin Hardy Strauss Inc. purchased a new position in Red Cat in the third quarter valued at about $138,000. Renaissance Technologies LLC purchased a new position in Red Cat in the second quarter valued at about $267,000. Sheets Smith Wealth Management acquired a new stake in Red Cat during the 3rd quarter valued at approximately $51,000. Finally, PVG Asset Management Corp purchased a new stake in Red Cat during the 2nd quarter worth approximately $63,000. Hedge funds and other institutional investors own 37.97% of the company's stock.

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.