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

RedCloud Holdings plc (NASDAQ:RCT) was the target of a significant growth in short interest during the month of 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 daily volume of 117,964 shares, the short-interest ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are sold short. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 117,964 shares, the short-interest ratio is presently 0.5 days.

Institutional Investors Weigh In On RedCloud

Hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new position in RedCloud in the 4th quarter worth approximately $38,000. Boyer Financial Services Inc. acquired a new position in RedCloud during the 4th quarter worth $176,000. Finally, UBS Group AG grew its stake in shares of 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 in the last quarter.

RedCloud Stock Performance

Shares of NASDAQ RCT opened at $0.92 on Thursday. RedCloud has a 1-year low of $0.80 and a 1-year high of $5.36. The stock has a fifty day moving average of $1.21.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RCT shares. Roth Mkm restated a “buy” rating and set a $5.50 price objective (up from $4.50) on shares of RedCloud in a research note on Tuesday, January 20th. Rosenblatt Securities reissued a “buy” rating and set a $5.00 price target on shares of RedCloud in a research report on Thursday, January 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of RedCloud in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.25.

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.