RedCloud Holdings plc (NASDAQ:RCT) Short Interest Update

RedCloud Holdings plc (NASDAQ:RCT) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 2,087,682 shares, an increase of 80.9% from the June 15th total of 1,154,352 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average daily volume of 30,931,791 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RCT. UBS Group AG lifted its stake in shares of RedCloud by 2,359.8% during the 3rd quarter. UBS Group AG now owns 328,365 shares of the company’s stock worth $594,000 after purchasing an additional 315,016 shares during the last quarter. XTX Topco Ltd purchased a new position in RedCloud in the fourth quarter valued at about $38,000. Finally, Boyer Financial Services Inc. purchased a new position in RedCloud in the fourth quarter valued at about $176,000.

RedCloud Price Performance

Shares of RCT stock opened at $0.25 on Friday. RedCloud has a 52-week low of $0.22 and a 52-week high of $3.08. The company’s 50 day moving average is $0.51 and its 200 day moving average is $0.82.

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

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of RedCloud in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.25.

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.