RedCloud (NASDAQ:RCT) Issues Quarterly Earnings Results

RedCloud (NASDAQ:RCT) posted its quarterly earnings data on Friday. The company reported ($0.14) earnings per share for the quarter, FiscalAI reports. The business had revenue of $15.28 million for the quarter.

RedCloud Stock Down 1.7%

Shares of NASDAQ RCT traded down $0.01 during mid-day trading on Friday, hitting $0.59. The company’s stock had a trading volume of 407,290 shares, compared to its average volume of 432,314. RedCloud has a one year low of $0.56 and a one year high of $5.36. The company’s fifty day simple moving average is $0.74 and its 200-day simple moving average is $1.19.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of RedCloud in the 4th quarter valued at about $38,000. Boyer Financial Services Inc. bought a new position in shares of RedCloud in the 4th quarter valued at about $176,000. Finally, UBS Group AG boosted its stake 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 valued at $594,000 after purchasing an additional 315,016 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RCT shares. Roth Mkm restated a “buy” rating and issued a $5.50 price objective (up from $4.50) on shares of RedCloud in a research report on Tuesday, January 20th. Rosenblatt Securities restated a “buy” rating and issued a $5.00 price objective on shares of RedCloud in a research report on Thursday, January 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of RedCloud in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.