Short Interest in RedCloud Holdings plc (NASDAQ:RCT) Grows By 307.7%

RedCloud Holdings plc (NASDAQ:RCT) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 175,626 shares, a growth of 307.7% from the December 31st total of 43,077 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 207,979 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily trading volume, of 207,979 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On RedCloud

An institutional investor recently raised its position in RedCloud stock. UBS Group AG boosted its position in RedCloud Holdings plc (NASDAQ:RCT) by 2,359.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 328,365 shares of the company’s stock after acquiring an additional 315,016 shares during the period. UBS Group AG owned about 0.83% of RedCloud worth $594,000 at the end of the most recent reporting period.

RedCloud Stock Performance

RCT stock remained flat at $1.25 during midday trading on Wednesday. The company had a trading volume of 39,740 shares, compared to its average volume of 192,145. The stock has a fifty day moving average price of $1.51. RedCloud has a 52-week low of $0.80 and a 52-week high of $5.36.

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

Analyst Ratings Changes

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