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

RedCloud Holdings plc (NASDAQ:RCT) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 46,781 shares, an increase of 121.5% from the November 30th total of 21,116 shares. Based on an average daily trading volume, of 114,657 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the company’s shares are short sold. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 114,657 shares, the days-to-cover ratio is presently 0.4 days.

RedCloud Stock Performance

RCT stock opened at $1.44 on Friday. RedCloud has a fifty-two week low of $0.80 and a fifty-two week high of $5.36. The business’s 50 day moving average price is $1.67.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.00 price target on shares of RedCloud in a research report on Friday, December 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of RedCloud in a research note on Monday, December 22nd. Roth Capital restated a “buy” rating and set a $4.50 target price (down previously from $5.00) on shares of RedCloud in a research report on Tuesday, December 16th. Finally, Wall Street Zen upgraded RedCloud to a “hold” rating in a report on Monday, September 1st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.75.

Institutional Trading of RedCloud

A hedge fund recently raised its stake in RedCloud stock. UBS Group AG raised its holdings in shares of RedCloud Holdings plc (NASDAQ:RCT) by 2,359.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,365 shares of the company’s stock after purchasing an additional 315,016 shares during the quarter. UBS Group AG owned 0.83% of RedCloud worth $594,000 as of its most recent SEC filing.

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.