RedCloud (NASDAQ:RCT) Stock Price Down 0.9% – What’s Next?

RedCloud Holdings plc (NASDAQ:RCTGet Free Report)’s share price dropped 0.9% on Thursday . The stock traded as low as $0.5830 and last traded at $0.6105. Approximately 371,821 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 3,209,865 shares. The stock had previously closed at $0.6160.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of RedCloud in a research report on Friday, March 27th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, RedCloud currently has a consensus rating of “Hold” and a consensus price target of $5.25.

Read Our Latest Analysis on RCT

RedCloud Stock Performance

The company’s fifty day moving average is $0.68 and its 200-day moving average is $1.06.

RedCloud (NASDAQ:RCTGet Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter. The company had revenue of $15.28 million for the quarter.

Institutional Investors Weigh In On RedCloud

A number of institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in RedCloud during the fourth quarter valued at approximately $38,000. Boyer Financial Services Inc. bought a new position in RedCloud during the 4th quarter valued at about $176,000. Finally, UBS Group AG lifted its holdings in RedCloud by 2,359.8% during the 3rd quarter. UBS Group AG now owns 328,365 shares of the company’s stock valued at $594,000 after purchasing an additional 315,016 shares during the last quarter.

About RedCloud

(Get Free Report)

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.

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