RedCloud Holdings plc (NASDAQ:RCT) Sees Large Increase in Short Interest

RedCloud Holdings plc (NASDAQ:RCT) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 3,537,601 shares, a growth of 2,159.7% from the March 31st total of 156,555 shares. Currently, 8.0% of the shares of the company are sold short. Based on an average trading volume of 17,108,253 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

RCT has been the subject of a number of recent analyst reports. Roth Mkm restated a “buy” rating and set a $5.50 price target (up from $4.50) on shares of RedCloud in a report on Tuesday, January 20th. Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 price objective on shares of RedCloud in a research note on Thursday, January 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of RedCloud in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.25.

Institutional Trading of RedCloud

Several hedge funds and other institutional investors have recently bought and sold shares of RCT. UBS Group AG increased its holdings in shares of RedCloud by 2,359.8% during the 3rd 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 period. Boyer Financial Services Inc. bought a new stake in shares of RedCloud in the fourth quarter valued at about $176,000. Finally, XTX Topco Ltd acquired a new stake in RedCloud during the fourth quarter worth about $38,000.

RedCloud Stock Up 1.7%

Shares of RCT stock opened at $0.74 on Friday. RedCloud has a 1 year low of $0.56 and a 1 year high of $5.36. The firm’s fifty day simple moving average is $0.83 and its 200 day simple moving average is $1.28.

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.