RedCloud Holdings plc (NASDAQ:RCT) Short Interest Down 80.9% in July

RedCloud Holdings plc (NASDAQ:RCT) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 108,195 shares, a decline of 80.9% from the July 15th total of 566,529 shares. Based on an average daily volume of 556,453 shares, the short-interest ratio is presently 0.2 days. Currently, 0.2% of the shares of the stock are sold short.

RedCloud Price Performance

Shares of NASDAQ RCT opened at $0.23 on Wednesday. The firm has a 50-day moving average of $0.35 and a two-hundred day moving average of $0.66. RedCloud has a twelve month low of $0.17 and a twelve month high of $2.39.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On RedCloud

Several large investors have recently modified their holdings of the stock. UBS Group AG grew its holdings in shares of RedCloud by 2,359.8% in the 3rd 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 last quarter. Boyer Financial Services Inc. purchased a new stake in shares of RedCloud during the fourth quarter valued at $176,000. Finally, XTX Topco Ltd acquired a new position in shares of RedCloud in the 4th quarter valued at $38,000.

About RedCloud

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.