RedCloud Holdings plc (NASDAQ:RCT) Sees Significant Increase in Short Interest

RedCloud Holdings plc (NASDAQ:RCT) saw a significant growth in short interest in February. As of February 13th, there was short interest totaling 63,429 shares, a growth of 25.9% from the January 29th total of 50,396 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 117,964 shares, the short-interest ratio is presently 0.5 days. Based on an average daily trading volume, of 117,964 shares, the short-interest ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RCT. Roth Mkm reiterated a “buy” rating and issued a $5.50 price target (up from $4.50) on shares of RedCloud in a report on Tuesday, January 20th. Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 target price on shares of RedCloud in a research note on Thursday, January 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of RedCloud in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.25.

Hedge Funds Weigh In On RedCloud

Several hedge funds have recently made changes to their positions in the company. UBS Group AG raised its stake in RedCloud by 2,359.8% in 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 last quarter. Boyer Financial Services Inc. purchased a new stake in RedCloud during the 4th quarter valued at about $176,000. Finally, XTX Topco Ltd acquired a new position in shares of RedCloud in the fourth quarter valued at about $38,000.

RedCloud Stock Performance

Shares of RCT stock opened at $1.00 on Tuesday. RedCloud has a fifty-two week low of $0.80 and a fifty-two week high of $5.36. The business’s 50-day simple moving average is $1.23.

RedCloud (NASDAQ:RCT) last released its earnings results on Thursday, December 11th. The company reported ($0.37) EPS for the quarter. The company had revenue of $8.99 million for the quarter.

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.