RedCloud (NASDAQ:RCT) Receives “Buy” Rating from Rosenblatt Securities

RedCloud (NASDAQ:RCT)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They presently have a $5.00 price objective on the stock. Rosenblatt Securities’ target price points to a potential upside of 235.57% from the company’s previous close.

Several other equities research analysts have also recently weighed in on RCT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RedCloud in a research report on Monday, December 29th. Roth Capital reaffirmed a “buy” rating and set a $4.50 price target (down previously from $5.00) on shares of RedCloud in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, RedCloud has an average rating of “Hold” and an average target price of $4.75.

RedCloud Price Performance

Shares of RCT stock opened at $1.49 on Thursday. RedCloud has a 1 year low of $0.80 and a 1 year high of $5.36. The company has a 50 day moving average of $1.59.

RedCloud (NASDAQ:RCT) last announced its quarterly earnings data on Thursday, December 11th. The company reported ($0.37) earnings per share for the quarter. The business had revenue of $8.99 million during the quarter.

Hedge Funds Weigh In On RedCloud

An institutional investor recently raised its position in RedCloud stock. UBS Group AG raised its stake in RedCloud Holdings plc (NASDAQ:RCT) by 2,359.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,365 shares of the company’s stock after buying an additional 315,016 shares during the period. UBS Group AG owned 0.83% of RedCloud worth $594,000 at the end of the most recent 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.