RedCloud Holdings plc (NASDAQ:RCT) Short Interest Up 165.6% in August

RedCloud Holdings plc (NASDAQ:RCT) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 287,389 shares, an increase of 165.6% from the July 30th total of 108,195 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 514,945 shares, the short-interest ratio is presently 0.6 days.

Institutional Trading of RedCloud

A hedge fund recently bought a new position in RedCloud stock. XTX Topco Ltd bought a new stake in RedCloud Holdings plc (NASDAQ:RCT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,457 shares of the company’s stock, valued at approximately $38,000. XTX Topco Ltd owned approximately 0.06% of RedCloud as of its most recent SEC filing.

RedCloud Price Performance

NASDAQ RCT traded up $0.02 on Friday, hitting $0.22. 1,041,364 shares of the company were exchanged, compared to its average volume of 657,138. RedCloud has a twelve month low of $0.17 and a twelve month high of $2.39. The company’s 50 day moving average price is $0.25 and its 200-day moving average price is $0.58.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of RedCloud in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.25.

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.