RedCloud’s (RCT) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of RedCloud (NASDAQ:RCT) in a report released on Thursday,Benzinga reports. They currently have a $5.00 price objective on the stock.

Other research analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of RedCloud in a research report on Monday, December 29th. Roth Capital reaffirmed a “buy” rating and set a $4.50 price target (down from $5.00) on shares of RedCloud in a research report on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.75.

RedCloud Stock Up 1.9%

RedCloud stock opened at $1.57 on Thursday. RedCloud has a 1-year low of $0.80 and a 1-year high of $5.36. The company has a fifty day simple moving average of $1.57.

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

Hedge Funds Weigh In On RedCloud

A hedge fund recently raised its stake in RedCloud stock. UBS Group AG increased its position in shares of RedCloud Holdings plc (NASDAQ:RCT) by 2,359.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 328,365 shares of the company’s stock after purchasing an additional 315,016 shares during the period. UBS Group AG owned approximately 0.83% of RedCloud worth $594,000 as of its most recent filing with the Securities and Exchange Commission.

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.