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

RedCloud Holdings plc (NASDAQ:RCT) was the target of a significant increase in short interest in May. As of May 29th, there was short interest totaling 1,857,145 shares, an increase of 68.7% from the May 14th total of 1,100,785 shares. Based on an average trading volume of 6,686,837 shares, the days-to-cover ratio is presently 0.3 days. Currently, 3.1% of the company’s stock are sold short.

RedCloud Price Performance

NASDAQ RCT remained flat at $0.65 on Monday. The company’s stock had a trading volume of 121,568 shares, compared to its average volume of 2,300,335. The company has a fifty day moving average price of $0.66 and a 200-day moving average price of $1.02. RedCloud has a 12-month low of $0.47 and a 12-month high of $5.36.

RedCloud (NASDAQ:RCT) last announced its quarterly earnings data 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.

Institutional Trading of RedCloud

A number of institutional investors and hedge funds have recently made changes to their positions in RCT. UBS Group AG raised its position in shares of RedCloud by 2,359.8% during 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. Boyer Financial Services Inc. acquired a new stake in shares of RedCloud during the 4th quarter worth approximately $176,000. Finally, XTX Topco Ltd acquired a new stake in shares of RedCloud during the 4th quarter worth approximately $38,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of RedCloud in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, RedCloud has a consensus rating of “Hold” and an average target price of $5.25.

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.