RedCloud Holdings plc (NASDAQ:RCT) Shares Shorted: Short Interest Down 67.3% in September

RedCloud Holdings plc (NASDAQ:RCT) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 65,574 shares, a drop of 67.3% from the August 31st total of 200,629 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 880,704 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of RedCloud in a report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, RedCloud has a consensus rating of “Hold” and a consensus price target of $5.25.

Insider Activity at RedCloud

In other news, Director Nikolaus Beat Senn bought 2,500,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was purchased at an average cost of $0.25 per share, with a total value of $625,000.00. Following the acquisition, the director directly owned 10,151,524 shares in the company, valued at $2,537,881. This trade represents a 32.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

RedCloud Stock Performance

NASDAQ RCT traded down $0.01 during trading hours on Monday, reaching $0.19. The company’s stock had a trading volume of 222,535 shares, compared to its average volume of 3,538,420. The company’s 50-day moving average is $0.21 and its two-hundred day moving average is $0.47. RedCloud has a 1-year low of $0.17 and a 1-year high of $2.39.

About RedCloud

RedCloud Holdings plc, doing business as RedCloud, operates a B2B commerce platform designed to connect consumer-goods manufacturers and distributors with small and independent retailers in emerging markets. Its platform is intended to help businesses discover products, place orders and manage transactions through digital channels.

The company’s services support the distribution of fast-moving consumer goods, including food, beverages and household products. RedCloud also provides tools intended to facilitate digital payments, order management, pricing and business data, helping brands and distributors reach fragmented retail networks more efficiently.

RedCloud serves markets in emerging economies, with a particular focus on Africa and other regions where traditional retail distribution is highly fragmented.