RedCloud Holdings plc (NASDAQ:RCT) Sees Significant Decline in Short Interest

RedCloud Holdings plc (NASDAQ:RCT) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 566,529 shares, a decrease of 72.9% from the June 30th total of 2,087,682 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily volume of 4,704,747 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On RedCloud

Several institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in shares of RedCloud during the fourth quarter worth approximately $38,000. Boyer Financial Services Inc. bought a new stake in shares of RedCloud in the fourth quarter worth $176,000. Finally, UBS Group AG raised its holdings in RedCloud by 2,359.8% in the third quarter. UBS Group AG now owns 328,365 shares of the company’s stock valued at $594,000 after acquiring an additional 315,016 shares in the last quarter.

RedCloud Trading Up 1.1%

Shares of NASDAQ:RCT traded up $0.00 during trading on Friday, hitting $0.21. The company’s stock had a trading volume of 431,720 shares, compared to its average volume of 16,776,603. RedCloud has a fifty-two week low of $0.20 and a fifty-two week high of $3.08. The stock’s 50-day moving average price is $0.46 and its two-hundred day moving average price is $0.77.

RedCloud (NASDAQ:RCT) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $15.28 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 Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, RedCloud has an average rating of “Hold” and an average price target 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.