RedCloud Holdings plc (NASDAQ:RCT – Get Free Report) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totaling 1,213,691 shares, a decline of 65.7% from the April 15th total of 3,537,601 shares. Based on an average daily volume of 620,621 shares, the short-interest ratio is presently 2.0 days. Approximately 2.7% of the shares of the company are sold short.
RedCloud Stock Performance
RCT stock traded down $0.05 during trading on Thursday, hitting $0.60. The company had a trading volume of 708,867 shares, compared to its average volume of 489,116. RedCloud has a 1-year low of $0.56 and a 1-year high of $5.36. The firm has a 50-day moving average price of $0.75 and a 200-day moving average price of $1.19.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 target price on shares of RedCloud in a research report on Thursday, January 15th. Roth Mkm reiterated a “buy” rating and set a $5.50 target price (up from $4.50) on shares of RedCloud in a research report on Tuesday, January 20th. Finally, Weiss Ratings reiterated 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.25.
Hedge Funds Weigh In On RedCloud
Several institutional investors have recently added to or reduced their stakes in RCT. UBS Group AG increased its position in 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 acquiring an additional 315,016 shares during the period. Boyer Financial Services Inc. acquired a new position in RedCloud in the 4th quarter valued at about $176,000. Finally, XTX Topco Ltd purchased a new stake in RedCloud in the 4th quarter valued at approximately $38,000.
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.
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