RedCloud Holdings plc (NASDAQ:RCT) Short Interest Down 37.8% in June

RedCloud Holdings plc (NASDAQ:RCT) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 1,154,352 shares, a drop of 37.8% from the May 31st total of 1,857,145 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average trading volume of 298,260 shares, the short-interest ratio is currently 3.9 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of RedCloud in a research note on Wednesday, June 24th. Two equities 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 presently has an average rating of “Hold” and an average price target of $5.25.

RedCloud Trading Down 7.8%

NASDAQ RCT traded down $0.02 during trading hours on Thursday, hitting $0.24. 3,763,062 shares of the company’s stock were exchanged, compared to its average volume of 4,645,864. The stock has a 50-day simple moving average of $0.61 and a 200 day simple moving average of $0.91. RedCloud has a 1-year low of $0.22 and a 1-year high of $3.08.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Boyer Financial Services Inc. bought a new position in RedCloud during the fourth quarter worth $176,000. UBS Group AG grew its holdings in RedCloud by 2,359.8% in the third quarter. UBS Group AG now owns 328,365 shares of the company’s stock worth $594,000 after purchasing an additional 315,016 shares during the period. Finally, XTX Topco Ltd bought a new stake in RedCloud in the fourth 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.