RedCloud Holdings plc (NASDAQ:RCT) Sees Significant Increase in Short Interest

RedCloud Holdings plc (NASDAQ:RCT) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 124,346 shares, a growth of 89.6% from the September 15th total of 65,574 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 486,925 shares, the short-interest ratio is currently 0.3 days.

Insider Transactions at RedCloud

In other RedCloud news, Director Nikolaus Senn purchased 2,500,000 shares of the stock in a transaction on Thursday, August 27th. The shares were bought at an average cost of $0.25 per share, with a total value of $625,000.00. Following the completion of the acquisition, the director owned 10,151,524 shares in the company, valued at $2,537,881. This trade represents a 32.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

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

RedCloud Stock Performance

Shares of RCT traded down $0.01 during trading hours on Friday, hitting $0.08. The stock had a trading volume of 3,545,355 shares, compared to its average volume of 3,582,683. The firm has a 50-day moving average price of $0.19 and a 200 day moving average price of $0.40. RedCloud has a fifty-two week low of $0.08 and a fifty-two week high of $2.34.

RedCloud shares are set 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 released its quarterly earnings data on Friday, August 14th. The company reported ($0.17) earnings per share for the quarter. The business had revenue of $12.01 million for the quarter.

About RedCloud

RedCloud Holdings plc (NASDAQ: RCT) operates a business-to-business commerce platform designed to connect consumer-goods brands, distributors and informal retailers in emerging markets. Its technology enables retailers to discover products, place orders and make payments digitally, while helping suppliers expand distribution and improve visibility across fragmented retail channels.

The company’s RedCloud Marketplace supports digital ordering and transaction management, and its broader platform may include payment, data and financial-services capabilities intended to improve access to working capital and other services for small businesses.