RedCloud Holdings plc (NASDAQ:RCT) Short Interest Up 78.6% in March

RedCloud Holdings plc (NASDAQ:RCT) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 156,555 shares, an increase of 78.6% from the March 15th total of 87,642 shares. Based on an average trading volume of 72,804 shares, the short-interest ratio is currently 2.2 days. Currently, 0.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On RedCloud

A number of institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new position in RedCloud during the 4th quarter worth approximately $38,000. Boyer Financial Services Inc. acquired a new position in RedCloud during the 4th quarter worth approximately $176,000. Finally, UBS Group AG increased its position in 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 in the last quarter.

Analysts Set New Price Targets

RCT has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RedCloud in a report on Friday, March 27th. Roth Mkm reaffirmed 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $5.00 price target on shares of RedCloud in a report on Thursday, January 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, RedCloud presently has an average rating of “Hold” and an average price target of $5.25.

RedCloud Price Performance

RCT stock traded down $0.30 during trading on Tuesday, reaching $0.71. 9,789,450 shares of the company were exchanged, compared to its average volume of 8,098,375. The company has a 50-day moving average of $0.86 and a two-hundred day moving average of $1.35. RedCloud has a twelve month low of $0.56 and a twelve month high of $5.36.

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.