Short Interest in RedCloud Holdings plc (NASDAQ:RCT) Grows By 165.6%

RedCloud Holdings plc (NASDAQ:RCT) was the recipient of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 287,389 shares, a growth of 165.6% from the July 30th total of 108,195 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 514,945 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in RedCloud stock. UBS Group AG boosted its position in shares of RedCloud Holdings plc (NASDAQ:RCT) by 2,359.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 quarter.

RedCloud Trading Up 7.7%

NASDAQ:RCT opened at $0.22 on Friday. The stock has a fifty day moving average price of $0.25 and a 200-day moving average price of $0.58. RedCloud has a fifty-two week low of $0.17 and a fifty-two week high of $2.39.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.