RedCloud Holdings plc (NASDAQ:RCT) Short Interest Down 37.8% in June

RedCloud Holdings plc (NASDAQ:RCT) saw a large drop in short interest in June. As of June 15th, there was short interest totaling 1,154,352 shares, a drop of 37.8% from the May 31st total of 1,857,145 shares. Based on an average daily volume of 298,260 shares, the short-interest ratio is currently 3.9 days. Currently, 1.9% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Institutional Trading of RedCloud

Several hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG grew its holdings in shares of RedCloud by 2,359.8% during the third quarter. UBS Group AG now owns 328,365 shares of the company’s stock valued at $594,000 after buying an additional 315,016 shares in the last quarter. Boyer Financial Services Inc. purchased a new stake in RedCloud in the 4th quarter worth about $176,000. Finally, XTX Topco Ltd purchased a new stake in RedCloud in the 4th quarter worth about $38,000.

RedCloud Trading Down 7.8%

Shares of RCT opened at $0.24 on Friday. The company has a 50-day moving average of $0.60 and a two-hundred day moving average of $0.90. RedCloud has a one year low of $0.22 and a one year high of $3.08.

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