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

RedCloud Holdings plc (NASDAQ:RCT) was the recipient of a large increase in short interest in 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. Based on an average daily volume of 429,021 shares, the short-interest ratio is presently 0.2 days. Currently, 0.2% of the shares of the stock are sold short. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 429,021 shares, the short-interest ratio is presently 0.2 days.

RedCloud Stock Performance

Shares of RedCloud stock opened at $0.88 on Monday. RedCloud has a twelve month low of $0.80 and a twelve month high of $5.36. The company has a 50-day moving average of $1.13.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in RedCloud during the 4th quarter worth $38,000. Boyer Financial Services Inc. acquired a new stake in shares of RedCloud in the fourth quarter valued at about $176,000. Finally, UBS Group AG lifted its stake in shares of RedCloud by 2,359.8% in the third quarter. UBS Group AG now owns 328,365 shares of the company’s stock worth $594,000 after buying an additional 315,016 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RCT. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 price target on shares of RedCloud in a research report on Thursday, January 15th. Weiss Ratings restated a “sell (e+)” rating on shares of RedCloud in a research report on Monday, December 29th. Finally, 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. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.25.

About RedCloud

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.