RedCloud Holdings plc (NASDAQ:RCT – Get Free Report) saw a large growth in short interest in June. As of June 30th, there was short interest totaling 2,087,682 shares, a growth of 80.9% from the June 15th total of 1,154,352 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 30,931,791 shares, the days-to-cover ratio is presently 0.1 days.
Hedge Funds Weigh In On RedCloud
Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG lifted its stake 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 purchasing an additional 315,016 shares during the last quarter. XTX Topco Ltd acquired a new stake in RedCloud in the fourth quarter valued at approximately $38,000. Finally, Boyer Financial Services Inc. bought a new stake in shares of RedCloud during the fourth quarter worth $176,000.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RedCloud in a report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, RedCloud presently has a consensus rating of “Hold” and a consensus price target of $5.25.
RedCloud Price Performance
Shares of RCT stock traded down $0.01 on Friday, hitting $0.24. 433,549 shares of the company’s stock were exchanged, compared to its average volume of 18,018,988. The company has a 50 day moving average of $0.50 and a 200 day moving average of $0.81. RedCloud has a 12 month low of $0.22 and a 12 month high of $3.08.
RedCloud (NASDAQ:RCT – Get Free Report) last released its earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter. The business had revenue of $15.28 million during the quarter.
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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