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

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

RedCloud Stock Performance

Shares of NASDAQ:RCT remained flat at $0.65 during trading on Monday. The company had a trading volume of 121,568 shares, compared to its average volume of 2,300,335. RedCloud has a fifty-two week low of $0.47 and a fifty-two week high of $5.36. The firm’s fifty day simple moving average is $0.66 and its 200-day simple moving average is $1.02.

RedCloud (NASDAQ:RCT) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.14) EPS for the quarter. The company had revenue of $15.28 million during the quarter.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new position in shares of RedCloud in the fourth quarter worth about $38,000. Boyer Financial Services Inc. acquired a new position in shares of RedCloud in the fourth quarter worth 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 acquiring an additional 315,016 shares in the last quarter.

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.