RedCloud Holdings plc (NASDAQ:RCT) Shares Shorted: Short Interest Down 67.3% in September

RedCloud Holdings plc (NASDAQ:RCT) saw a significant drop in short interest in September. As of September 15th, there was short interest totaling 65,574 shares, a drop of 67.3% from the August 31st total of 200,629 shares. Based on an average daily volume of 880,704 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s stock are short sold.

RedCloud Trading Up 4.8%

Shares of RedCloud stock traded up $0.01 during trading hours on Friday, hitting $0.20. 400,827 shares of the company’s stock traded hands, compared to its average volume of 688,072. RedCloud has a 12-month low of $0.17 and a 12-month high of $2.39. The company has a fifty day simple moving average of $0.21 and a 200-day simple moving average of $0.47.

Insider Buying and Selling at RedCloud

In related news, Director Nikolaus Beat Senn bought 2,500,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average price of $0.25 per share, with a total value of $625,000.00. Following the completion of the transaction, the director directly owned 10,151,524 shares in the company, valued at approximately $2,537,881. This represents a 32.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of RedCloud in a research note on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.25.

About RedCloud

RedCloud Holdings plc, doing business as RedCloud, operates a B2B commerce platform designed to connect consumer-goods manufacturers and distributors with small and independent retailers in emerging markets. Its platform is intended to help businesses discover products, place orders and manage transactions through digital channels.

The company’s services support the distribution of fast-moving consumer goods, including food, beverages and household products. RedCloud also provides tools intended to facilitate digital payments, order management, pricing and business data, helping brands and distributors reach fragmented retail networks more efficiently.

RedCloud serves markets in emerging economies, with a particular focus on Africa and other regions where traditional retail distribution is highly fragmented.