RedCloud (NASDAQ:RCT) Shares to Reverse Split on Friday, November 13th

RedCloud Holdings plc (NASDAQ:RCT) shares are going to reverse split on the morning of Friday, November 13th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, November 12th.

RedCloud Stock Up 4.4%

Shares of NASDAQ RCT opened at $0.03 on Thursday. The business has a 50-day moving average of $0.15 and a two-hundred day moving average of $0.52. RedCloud has a 1 year low of $0.03 and a 1 year high of $2.34.

RedCloud (NASDAQ:RCT) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter. The firm had revenue of $12.01 million during the quarter.

Wall Street Analysts Forecast Growth

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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.25.

Insider Activity

In other news, Director Nikolaus Senn bought 2,500,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were acquired at an average price 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 trade represents a 32.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

RedCloud Company Profile

RedCloud Holdings plc, operating under the RedCloud brand, provides a business-to-business digital commerce platform designed to connect consumer-goods manufacturers and distributors with small retailers in emerging markets. Its RedCloud Marketplace enables retailers to discover and order products from suppliers through digital channels, while helping brands and distributors expand their reach beyond traditional sales networks.

The company’s platform is focused on the distribution of fast-moving consumer goods, including everyday food, beverage, household and personal-care products.