RedCloud (NASDAQ:RCT) Announces Earnings Results

RedCloud (NASDAQ:RCT) released its earnings results on Friday. The company reported ($0.14) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $15.28 million during the quarter.

RedCloud Stock Down 1.7%

RedCloud stock opened at $0.59 on Friday. RedCloud has a one year low of $0.56 and a one year high of $5.36. The business has a fifty day moving average price of $0.74 and a 200-day moving average price of $1.19.

Wall Street Analyst Weigh In

RCT has been the subject of a number of recent research reports. Roth Mkm reissued a “buy” rating and issued a $5.50 target price (up from $4.50) on shares of RedCloud in a research report on Tuesday, January 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of RedCloud in a research report on Friday, March 27th. Two research 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, RedCloud has a consensus rating of “Hold” and an average target price of $5.25.

Hedge Funds Weigh In On RedCloud

A number of large investors have recently made changes to their positions in RCT. XTX Topco Ltd bought a new position in shares of RedCloud in the fourth quarter worth $38,000. Boyer Financial Services Inc. bought a new position in shares of RedCloud in the fourth quarter worth $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 worth $594,000 after acquiring an additional 315,016 shares during the period.

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.