RedCloud Holdings plc (NASDAQ:RCT) Short Interest Update

RedCloud Holdings plc (NASDAQ:RCT) was the target of a large drop in short interest in July. As of July 31st, there was short interest totaling 108,195 shares, a drop of 80.9% from the July 15th total of 566,529 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 556,453 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of RedCloud in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.25.

RedCloud Stock Up 1.4%

Shares of RCT stock traded up $0.00 during mid-day trading on Friday, reaching $0.22. 193,371 shares of the company were exchanged, compared to its average volume of 4,081,525. The business’s 50 day simple moving average is $0.33 and its 200 day simple moving average is $0.64. RedCloud has a fifty-two week low of $0.17 and a fifty-two week high of $2.39.

RedCloud (NASDAQ:RCT) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter. The company had revenue of $15.28 million for the quarter.

Institutional Investors Weigh In On RedCloud

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new position in RedCloud in the fourth quarter worth about $38,000. Boyer Financial Services Inc. acquired a new position in shares of RedCloud in the 4th quarter worth approximately $176,000. Finally, UBS Group AG increased its holdings in shares of RedCloud by 2,359.8% in the 3rd 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 during the last 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.