RedCloud Holdings plc (NASDAQ:RCT) Short Interest Update

RedCloud Holdings plc (NASDAQ:RCT) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 566,529 shares, a decrease of 72.9% from the June 30th total of 2,087,682 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily volume of 4,704,747 shares, the days-to-cover ratio is presently 0.1 days.

RedCloud Trading Down 5.8%

RCT traded down $0.01 on Tuesday, reaching $0.18. The company’s stock had a trading volume of 456,495 shares, compared to its average volume of 4,410,133. RedCloud has a 1 year low of $0.17 and a 1 year high of $3.08. The business’s 50 day moving average is $0.45 and its 200 day moving average is $0.76.

RedCloud (NASDAQ:RCT) last posted its quarterly earnings data 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.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RedCloud in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.25.

Institutional Trading of RedCloud

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in RedCloud in the fourth quarter valued at $38,000. Boyer Financial Services Inc. acquired a new position in RedCloud during the 4th quarter worth $176,000. Finally, UBS Group AG increased its position in shares of RedCloud by 2,359.8% in the 3rd 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 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.