RedCloud Holdings plc (NASDAQ:RCT) Short Interest Up 68.7% in May

RedCloud Holdings plc (NASDAQ:RCT) saw a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 1,857,145 shares, an increase of 68.7% from the May 14th total of 1,100,785 shares. Based on an average daily volume of 6,686,837 shares, the short-interest ratio is presently 0.3 days. Currently, 3.1% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RedCloud in a report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, RedCloud presently has a consensus rating of “Hold” and an average price target of $5.25.

RedCloud Price Performance

Shares of RCT stock traded down $0.03 on Wednesday, hitting $0.62. 90,796 shares of the company’s stock traded hands, compared to its average volume of 2,263,874. RedCloud has a one year low of $0.47 and a one year high of $5.36. The company’s fifty day simple moving average is $0.66 and its 200 day simple moving average is $1.00.

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

Institutional Investors Weigh In On RedCloud

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCT. UBS Group AG raised its holdings in RedCloud by 2,359.8% during the 3rd 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 during the last quarter. Boyer Financial Services Inc. bought a new stake in RedCloud during the 4th quarter valued at $176,000. Finally, XTX Topco Ltd bought a new stake in RedCloud during the 4th quarter valued at $38,000.

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.