RedCloud Holdings plc (NASDAQ:RCT) Short Interest Update

RedCloud Holdings plc (NASDAQ:RCT) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totaling 108,195 shares, a decrease of 80.9% from the July 15th total of 566,529 shares. Based on an average daily trading volume, of 556,453 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the company’s shares are short sold.

RedCloud Price Performance

RCT stock traded down $0.00 during midday trading on Thursday, reaching $0.21. The company’s stock had a trading volume of 353,899 shares, compared to its average volume of 580,447. The business’s 50-day simple moving average is $0.34 and its 200-day simple moving average is $0.65. RedCloud has a 52 week low of $0.17 and a 52 week high of $2.39.

RedCloud (NASDAQ:RCT) last issued its earnings results on Friday, May 15th. The company reported ($0.14) EPS for the quarter. The business had revenue of $15.28 million for the quarter.

Institutional Investors Weigh In On RedCloud

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of RedCloud in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.25.

About RedCloud

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.