RedCloud (NASDAQ:RCT) Posts Earnings Results

RedCloud (NASDAQ:RCT) released its earnings results on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, reports. The company had revenue of $12.01 million for the quarter.

RedCloud Stock Up 4.6%

RCT stock traded up $0.01 during mid-day trading on Wednesday, hitting $0.19. The company had a trading volume of 1,335,245 shares, compared to its average volume of 3,508,596. The company has a 50-day moving average price of $0.20 and a 200 day moving average price of $0.46. RedCloud has a 12-month low of $0.17 and a 12-month high of $2.39.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RedCloud in a report on Monday, September 21st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, RedCloud currently has an average rating of “Hold” and an average target price of $5.25.

Insider Activity

In other news, Director Nikolaus Beat Senn bought 2,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average cost of $0.25 per share, for a total transaction of $625,000.00. Following the completion of the transaction, the director owned 10,151,524 shares of the company’s stock, valued at approximately $2,537,881. This represents a 32.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

About RedCloud

RedCloud Holdings plc, doing business as RedCloud, operates a B2B commerce platform designed to connect consumer-goods manufacturers and distributors with small and independent retailers in emerging markets. Its platform is intended to help businesses discover products, place orders and manage transactions through digital channels.

The company’s services support the distribution of fast-moving consumer goods, including food, beverages and household products. RedCloud also provides tools intended to facilitate digital payments, order management, pricing and business data, helping brands and distributors reach fragmented retail networks more efficiently.

RedCloud serves markets in emerging economies, with a particular focus on Africa and other regions where traditional retail distribution is highly fragmented.