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

RedCloud Holdings plc (NASDAQ:RCT) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 63,429 shares, a growth of 25.9% from the January 29th total of 50,396 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 117,964 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily trading volume, of 117,964 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s shares are sold short.

RedCloud Stock Performance

Shares of RCT stock opened at $1.00 on Tuesday. The stock has a 50-day moving average of $1.23. RedCloud has a one year low of $0.80 and a one year high of $5.36.

RedCloud (NASDAQ:RCT) last announced its quarterly earnings results on Thursday, December 11th. The company reported ($0.37) earnings per share (EPS) for the quarter. The company had revenue of $8.99 million during the quarter.

Analyst Ratings Changes

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

Institutional Trading of RedCloud

Several institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in RedCloud during the 4th quarter worth about $38,000. Boyer Financial Services Inc. bought a new stake in shares of RedCloud in the 4th quarter valued at about $176,000. Finally, UBS Group AG lifted its position 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 purchasing an additional 315,016 shares during the period.

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.