Short Interest in RedCloud Holdings plc (NASDAQ:RCT) Decreases By 72.9%

RedCloud Holdings plc (NASDAQ:RCT) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 566,529 shares, a decline of 72.9% from the June 30th total of 2,087,682 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 4,704,747 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On RedCloud

Several large investors have recently made changes to their positions in RCT. XTX Topco Ltd bought a new stake in shares of RedCloud during the 4th quarter worth $38,000. Boyer Financial Services Inc. purchased a new position in shares of RedCloud in the 4th quarter worth about $176,000. Finally, UBS Group AG grew its position in RedCloud by 2,359.8% during the third quarter. UBS Group AG now owns 328,365 shares of the company’s stock valued at $594,000 after buying an additional 315,016 shares during the period.

RedCloud Price Performance

Shares of NASDAQ RCT traded down $0.02 during midday trading on Monday, reaching $0.20. The company’s stock had a trading volume of 765,542 shares, compared to its average volume of 4,438,919. The firm has a 50 day moving average price of $0.45 and a 200-day moving average price of $0.76. RedCloud has a 12-month low of $0.19 and a 12-month high of $3.08.

RedCloud (NASDAQ:RCT) last issued 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.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of RedCloud in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.25.

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.