Short Interest in RedCloud Holdings plc (NASDAQ:RCT) Increases By 307.7%

RedCloud Holdings plc (NASDAQ:RCTGet Free Report) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 175,626 shares, an increase of 307.7% from the December 31st total of 43,077 shares. Based on an average trading volume of 207,979 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.4% of the company’s stock are sold short. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 207,979 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Ratings Changes

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

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Institutional Inflows and Outflows

A hedge fund recently raised its stake in RedCloud stock. UBS Group AG raised its stake in shares of RedCloud Holdings plc (NASDAQ:RCTFree Report) by 2,359.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 328,365 shares of the company’s stock after buying an additional 315,016 shares during the period. UBS Group AG owned approximately 0.83% of RedCloud worth $594,000 as of its most recent SEC filing.

RedCloud Stock Performance

Shares of NASDAQ RCT traded down $0.06 during midday trading on Thursday, hitting $1.19. The company’s stock had a trading volume of 133,963 shares, compared to its average volume of 196,139. RedCloud has a 1-year low of $0.80 and a 1-year high of $5.36. The business has a fifty day simple moving average of $1.49.

RedCloud (NASDAQ:RCTGet Free Report) last issued its earnings results on Thursday, December 11th. The company reported ($0.37) EPS for the quarter. The business had revenue of $8.99 million during the quarter.

RedCloud Company Profile

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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.

Further Reading

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