RedCloud Holdings plc (NASDAQ:RCT) Short Interest Update

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

RedCloud Stock Performance

Shares of NASDAQ RCT opened at $0.24 on Friday. The firm has a 50 day moving average of $0.59 and a 200 day moving average of $0.90. RedCloud has a 12-month low of $0.22 and a 12-month high of $3.08.

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

Hedge Funds Weigh In On RedCloud

Institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in RedCloud during the fourth quarter valued at $38,000. Boyer Financial Services Inc. purchased a new stake in RedCloud in the fourth quarter worth about $176,000. Finally, UBS Group AG increased its position 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 buying an additional 315,016 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

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.