Short Interest in RedCloud Holdings plc (NASDAQ:RCT) Rises By 41.0%

by · The Markets Daily

RedCloud Holdings plc (NASDAQ:RCT – Get Free Report) saw a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 89,447 shares, an increase of 41.0% from the February 12th total of 63,429 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 429,021 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 429,021 shares, the short-interest ratio is currently 0.2 days. Approximately 0.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RCT shares. Weiss Ratings restated a “sell (e+)” rating on shares of RedCloud in a research report on Monday, December 29th. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 price objective on shares of RedCloud in a research note on Thursday, January 15th. Finally, Roth Mkm reissued a “buy” rating and set a $5.50 price objective (up from $4.50) on shares of RedCloud in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, RedCloud presently has an average rating of “Hold” and a consensus price target of $5.25.

Get Our Latest Analysis on RedCloud

RedCloud Price Performance

NASDAQ:RCT traded down $0.01 during trading hours on Friday, hitting $0.88. The stock had a trading volume of 24,815 shares, compared to its average volume of 241,716. The business’s 50 day moving average price is $1.13. RedCloud has a one year low of $0.80 and a one year high of $5.36.

RedCloud (NASDAQ:RCT – Get Free Report) last released its quarterly earnings results on Thursday, December 11th. The company reported ($0.37) earnings per share for the quarter. The firm had revenue of $8.99 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RCT. UBS Group AG raised its stake in RedCloud by 2,359.8% in the third quarter. UBS Group AG now owns 328,365 shares of the company’s stock valued at $594,000 after purchasing an additional 315,016 shares in the last quarter. Boyer Financial Services Inc. purchased a new stake in shares of RedCloud during the 4th quarter valued at $176,000. Finally, XTX Topco Ltd purchased a new stake in shares of RedCloud during the 4th quarter valued at $38,000.

RedCloud Company Profile

(Get Free Report)

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.

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