RedCloud Holdings plc (NASDAQ:RCT) Shares Shorted: Short Interest Up 602.1% in October

RedCloud Holdings plc (NASDAQ:RCT) was the target of a large growth in short interest in October. As of October 30th, there was short interest totaling 3,357,319 shares, a growth of 602.1% from the October 15th total of 478,172 shares. Based on an average daily volume of 92,274,315 shares, the short-interest ratio is presently 0.0 days. Approximately 4.9% of the company’s stock are short sold.

Insider Buying and Selling

In other news, Director Nikolaus Senn acquired 2,500,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was purchased at an average price of $0.25 per share, for a total transaction of $625,000.00. Following the purchase, the director owned 10,151,524 shares in the company, valued at approximately $2,537,881. This represents a 32.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

RedCloud Price Performance

NASDAQ RCT traded up $0.00 on Thursday, hitting $0.03. 102,724,092 shares of the stock traded hands, compared to its average volume of 14,902,190. The business’s fifty day moving average is $0.13 and its two-hundred day moving average is $0.49. RedCloud has a 12 month low of $0.03 and a 12 month high of $1.90.

Shares of RedCloud are scheduled to reverse split on Friday, November 13th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, November 12th.

RedCloud (NASDAQ:RCT) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.17) EPS for the quarter. The firm had revenue of $12.01 million during the quarter.

Analyst Upgrades and Downgrades

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

RedCloud Company Profile

RedCloud Holdings plc, operating under the RedCloud brand, provides a business-to-business digital commerce platform designed to connect consumer-goods manufacturers and distributors with small retailers in emerging markets. Its RedCloud Marketplace enables retailers to discover and order products from suppliers through digital channels, while helping brands and distributors expand their reach beyond traditional sales networks. The company’s platform is focused on the distribution of fast-moving consumer goods, including everyday food, beverage, household and personal-care products.