Rosenblatt Securities Reiterates Buy Rating for RedCloud (NASDAQ:RCT)

RedCloud (NASDAQ:RCT)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a research note issued on Thursday,Benzinga reports. They presently have a $5.00 price objective on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 218.47% from the stock’s current price.

A number of other equities analysts have also recently weighed in on RCT. Weiss Ratings reissued a “sell (e+)” rating on shares of RedCloud in a research report on Monday, December 29th. Roth Capital reiterated a “buy” rating and issued a $4.50 price target (down previously from $5.00) on shares of RedCloud in a research note on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.75.

RedCloud Price Performance

NASDAQ RCT opened at $1.57 on Thursday. RedCloud has a fifty-two week low of $0.80 and a fifty-two week high of $5.36. The business has a 50 day moving average of $1.57.

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

Hedge Funds Weigh In On RedCloud

An institutional investor recently raised its position in RedCloud stock. UBS Group AG lifted its position in RedCloud Holdings plc (NASDAQ:RCT) by 2,359.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 328,365 shares of the company’s stock after buying an additional 315,016 shares during the period. UBS Group AG owned approximately 0.83% of RedCloud worth $594,000 at the end of the most recent reporting period.

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.