RedCloud Holdings plc (NASDAQ:RCT) Short Interest Update

RedCloud Holdings plc (NASDAQ:RCT) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 1,213,691 shares, a drop of 65.7% from the April 15th total of 3,537,601 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily trading volume, of 620,621 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Upgrades and Downgrades

RCT has been the topic of a number of research reports. Roth Mkm restated a “buy” rating and set a $5.50 price target (up from $4.50) on shares of RedCloud in a research note on Tuesday, January 20th. Weiss Ratings restated a “sell (e+)” rating on shares of RedCloud in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.25.

RedCloud Stock Down 1.7%

RedCloud stock traded down $0.01 during mid-day trading on Friday, reaching $0.59. 407,290 shares of the company were exchanged, compared to its average volume of 432,314. RedCloud has a twelve month low of $0.56 and a twelve month high of $5.36. The firm’s 50-day simple moving average is $0.74 and its two-hundred day simple moving average is $1.19.

RedCloud (NASDAQ:RCT) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $15.28 million during the quarter.

Institutional Trading of RedCloud

A number of hedge funds have recently added to or reduced their stakes in RCT. XTX Topco Ltd acquired a new stake in RedCloud during the 4th quarter worth approximately $38,000. Boyer Financial Services Inc. acquired a new stake in RedCloud during the 4th quarter worth approximately $176,000. Finally, UBS Group AG lifted its position in RedCloud by 2,359.8% during the 3rd quarter. UBS Group AG now owns 328,365 shares of the company’s stock worth $594,000 after acquiring an additional 315,016 shares during the period.

RedCloud Company Profile

We have developed and operate the RedCloud platform (the “Platform”), that facilitates the trading of everyday consumer supplies of fast-moving consumer goods (“FMCG”) products across business supply chains. We believe the Platform solves a decades old problem of how to unlock and enable access of key purchase and sales data between brands, distributors and retailers in high growth consumer markets. Through the Platform, we enable retailers in these markets to use data driven insights backed by artificial intelligence (“AI”) to help make faster and easier business-to-business (“B2B”) purchases and inventory decisions from brands and distributors by breaking down complex purchasing behaviors of large product inventory catalogues.