Short Interest in RedCloud Holdings plc (NASDAQ:RCT) Rises By 2,159.7%

RedCloud Holdings plc (NASDAQ:RCT) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 3,537,601 shares, a growth of 2,159.7% from the March 31st total of 156,555 shares. Currently, 8.0% of the company’s shares are sold short. Based on an average daily trading volume, of 17,108,253 shares, the days-to-cover ratio is currently 0.2 days.

RedCloud Stock Up 1.7%

Shares of NASDAQ:RCT traded up $0.01 during trading on Friday, reaching $0.74. 475,567 shares of the stock were exchanged, compared to its average volume of 2,451,073. RedCloud has a 12-month low of $0.56 and a 12-month high of $5.36. The firm’s 50-day moving average price is $0.83 and its 200 day moving average price is $1.29.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Roth Mkm restated a “buy” rating and issued a $5.50 price target (up from $4.50) on shares of RedCloud in a report on Tuesday, January 20th. Weiss Ratings restated a “sell (e+)” rating on shares of RedCloud in a report on Friday, March 27th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $5.00 price target on shares of RedCloud in a report on Thursday, January 15th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, RedCloud currently has a consensus rating of “Hold” and a consensus price target of $5.25.

Institutional Trading of RedCloud

Institutional investors have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of RedCloud during the 4th quarter worth about $38,000. Boyer Financial Services Inc. purchased a new stake in shares of RedCloud during the 4th quarter worth about $176,000. Finally, UBS Group AG grew its holdings in shares of RedCloud by 2,359.8% during 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 period.

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.