RedCloud Holdings plc (NASDAQ:RCT) Sees Large Growth in Short Interest

RedCloud Holdings plc (NASDAQ:RCTGet Free Report) was the target of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 1,857,145 shares, a growth of 68.7% from the May 14th total of 1,100,785 shares. Based on an average daily volume of 6,686,837 shares, the short-interest ratio is currently 0.3 days. Currently, 3.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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 given a Sell rating to the stock. According to data from MarketBeat.com, RedCloud presently has an average rating of “Hold” and a consensus target price of $5.25.

Read Our Latest Stock Analysis on RedCloud

Institutional Trading of RedCloud

Several hedge funds and other institutional investors have recently modified their holdings of RCT. UBS Group AG raised its stake 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 valued at $594,000 after purchasing an additional 315,016 shares during the period. Boyer Financial Services Inc. acquired a new stake in shares of RedCloud in the 4th quarter valued at about $176,000. Finally, XTX Topco Ltd acquired a new stake in shares of RedCloud in the 4th quarter valued at about $38,000.

RedCloud Stock Performance

RedCloud stock remained flat at $0.65 during mid-day trading on Tuesday. The company had a trading volume of 323,355 shares, compared to its average volume of 2,282,992. RedCloud has a twelve month low of $0.47 and a twelve month high of $5.36. The company has a fifty day moving average price of $0.66 and a 200 day moving average price of $1.01.

RedCloud (NASDAQ:RCTGet Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.14) EPS for the quarter. The company had revenue of $15.28 million during the quarter.

About RedCloud

(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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