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

RedCloud Holdings plc (NASDAQ:RCT) was the target of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 1,213,691 shares, a decrease of 65.7% from the April 15th total of 3,537,601 shares. Based on an average daily trading volume, of 620,621 shares, the short-interest ratio is presently 2.0 days. Approximately 2.7% of the company’s shares are short sold.

RedCloud Stock Down 1.7%

RedCloud stock traded down $0.01 during midday trading on Friday, hitting $0.59. 407,290 shares of the stock were exchanged, compared to its average volume of 432,314. The company has a fifty day simple moving average of $0.74 and a two-hundred day simple moving average of $1.19. RedCloud has a 52 week low of $0.56 and a 52 week high of $5.36.

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

Analyst Upgrades and Downgrades

RCT has been the topic of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of RedCloud in a report on Friday, March 27th. Rosenblatt Securities restated a “buy” rating and issued a $5.00 price objective on shares of RedCloud in a report on Thursday, January 15th. Finally, Roth Mkm restated a “buy” rating and issued a $5.50 price objective (up from $4.50) on shares of RedCloud in a report on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, RedCloud presently has an average rating of “Hold” and an average price target of $5.25.

Institutional Trading of RedCloud

A number of large investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in shares of RedCloud in the 4th quarter valued at $38,000. Boyer Financial Services Inc. bought a new position in RedCloud in the fourth quarter valued at approximately $176,000. Finally, UBS Group AG lifted its stake in RedCloud by 2,359.8% in the third quarter. UBS Group AG now owns 328,365 shares of the company’s stock valued at $594,000 after buying an additional 315,016 shares in the last quarter.

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.