RedCloud Holdings plc (NASDAQ:RCT) Sees Significant Decline in Short Interest

RedCloud Holdings plc (NASDAQ:RCT) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 1,154,352 shares, a drop of 37.8% from the May 31st total of 1,857,145 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 298,260 shares, the short-interest ratio is presently 3.9 days.

Hedge Funds Weigh In On RedCloud

Several large investors have recently added to or reduced their stakes in RCT. XTX Topco Ltd acquired a new position in RedCloud during the 4th quarter valued at about $38,000. Boyer Financial Services Inc. bought a new stake in RedCloud during the 4th quarter worth approximately $176,000. Finally, UBS Group AG raised 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 during the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RedCloud in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.25.

RedCloud Stock Performance

RCT stock traded down $0.02 during midday trading on Thursday, reaching $0.24. 3,763,062 shares of the company’s stock traded hands, compared to its average volume of 4,645,864. The firm’s fifty day moving average price is $0.61 and its 200-day moving average price is $0.91. RedCloud has a 52 week low of $0.22 and a 52 week high of $3.08.

RedCloud (NASDAQ:RCT) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $15.28 million for the quarter.

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.