RedCloud (NASDAQ:RCT) Trading Down 0.9% – Here’s Why

Shares of RedCloud Holdings plc (NASDAQ:RCT) traded down 0.9% on Thursday . The company traded as low as $0.5830 and last traded at $0.6105. 371,821 shares were traded during trading, a decline of 88% from the average session volume of 3,209,865 shares. The stock had previously closed at $0.6160.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.25.

RedCloud Stock Down 0.9%

The business has a fifty day moving average of $0.68 and a 200 day moving average of $1.06.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCT. UBS Group AG grew its stake in RedCloud by 2,359.8% in the third quarter. UBS Group AG now owns 328,365 shares of the company’s stock valued at $594,000 after acquiring an additional 315,016 shares during the period. Boyer Financial Services Inc. acquired a new position in RedCloud in the fourth quarter valued at about $176,000. Finally, XTX Topco Ltd acquired a new position in RedCloud in the fourth quarter valued at about $38,000.

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.