RedCloud Holdings plc (NASDAQ:RCT) Short Interest Up 25.9% in February

RedCloud Holdings plc (NASDAQ:RCT) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 63,429 shares, a growth of 25.9% from the January 29th total of 50,396 shares. Based on an average trading volume of 117,964 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are short sold. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 117,964 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On RedCloud

Institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd bought a new stake in shares of RedCloud in the fourth quarter worth $38,000. Boyer Financial Services Inc. purchased a new position in RedCloud in the fourth quarter worth about $176,000. Finally, UBS Group AG boosted 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 purchasing an additional 315,016 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 price target on shares of RedCloud in a research note on Thursday, January 15th. Roth Mkm reaffirmed a “buy” rating and issued a $5.50 target price (up from $4.50) on shares of RedCloud in a report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of RedCloud in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, RedCloud has an average rating of “Hold” and a consensus price target of $5.25.

RedCloud Price Performance

RCT remained flat at $0.92 during midday trading on Wednesday. 44,958 shares of the company’s stock traded hands, compared to its average volume of 229,097. The firm’s 50 day moving average is $1.22. RedCloud has a 1-year low of $0.80 and a 1-year high of $5.36.

RedCloud (NASDAQ:RCT) last announced its quarterly earnings results on Thursday, December 11th. The company reported ($0.37) EPS for the quarter. The firm had revenue of $8.99 million for the quarter.

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.