RedCloud Holdings plc (NASDAQ:RCT) Short Interest Update

RedCloud Holdings plc (NASDAQ:RCT) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 2,087,682 shares, a growth of 80.9% from the June 15th total of 1,154,352 shares. Approximately 3.5% of the company’s shares are short sold. Based on an average daily volume of 30,931,791 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On RedCloud

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new position in shares of RedCloud during the fourth quarter worth approximately $38,000. Boyer Financial Services Inc. purchased a new stake in shares of RedCloud in the fourth quarter valued at approximately $176,000. Finally, UBS Group AG boosted its holdings 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 valued at $594,000 after purchasing an additional 315,016 shares during the period.

RedCloud Trading Down 1.2%

NASDAQ:RCT opened at $0.25 on Friday. RedCloud has a twelve month low of $0.22 and a twelve month high of $3.08. The stock has a fifty day simple moving average of $0.51 and a 200-day simple moving average of $0.82.

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