RedCloud (NASDAQ:RCT) Releases Quarterly Earnings Results

RedCloud (NASDAQ:RCT) released its quarterly earnings data on Wednesday. The company reported ($0.17) EPS for the quarter, reports. The firm had revenue of $12.01 million during the quarter.

RedCloud Trading Up 4.6%

RCT stock opened at $0.19 on Thursday. RedCloud has a fifty-two week low of $0.17 and a fifty-two week high of $2.39. The business’s 50 day moving average price is $0.20 and its two-hundred day moving average price is $0.45.

Insider Activity at RedCloud

In other news, Director Nikolaus Beat Senn bought 2,500,000 shares of the stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $0.25 per share, for a total transaction of $625,000.00. Following the purchase, the director directly owned 10,151,524 shares in the company, valued at $2,537,881. This trade represents a 32.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of RedCloud in a research report on Monday, September 21st. 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 MarketBeat.com, RedCloud has a consensus rating of “Hold” and an average target price of $5.25.

About RedCloud

RedCloud Holdings plc, doing business as RedCloud, operates a B2B commerce platform designed to connect consumer-goods manufacturers and distributors with small and independent retailers in emerging markets. Its platform is intended to help businesses discover products, place orders and manage transactions through digital channels.

The company’s services support the distribution of fast-moving consumer goods, including food, beverages and household products. RedCloud also provides tools intended to facilitate digital payments, order management, pricing and business data, helping brands and distributors reach fragmented retail networks more efficiently.

RedCloud serves markets in emerging economies, with a particular focus on Africa and other regions where traditional retail distribution is highly fragmented.