RedCloud Holdings plc (NASDAQ:RCT) Shares Shorted: Short Interest Down 67.3% in September

RedCloud Holdings plc (NASDAQ:RCT) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 65,574 shares, a decrease of 67.3% from the August 31st total of 200,629 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 880,704 shares, the days-to-cover ratio is presently 0.1 days.

Insider Buying and Selling

In related news, Director Nikolaus Beat Senn acquired 2,500,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was purchased at an average cost of $0.25 per share, with a total value of $625,000.00. Following the acquisition, the director directly owned 10,151,524 shares of the company’s stock, valued at approximately $2,537,881. The trade was a 32.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

RedCloud Price Performance

Shares of RCT traded up $0.01 during trading hours on Friday, reaching $0.20. The stock had a trading volume of 400,827 shares, compared to its average volume of 688,072. The firm has a 50-day simple moving average of $0.21 and a 200 day simple moving average of $0.47. RedCloud has a 12 month low of $0.17 and a 12 month high of $2.39.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of RedCloud in a research note on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, RedCloud has a consensus rating of “Hold” and an average price target of $5.25.

About RedCloud

RedCloud Holdings plc, doing business as RedCloud, operates a B2B commerce platform designed to connect consumer-goods manufacturers and distributors with small and independent retailers in emerging markets. Its platform is intended to help businesses discover products, place orders and manage transactions through digital channels.

The company’s services support the distribution of fast-moving consumer goods, including food, beverages and household products. RedCloud also provides tools intended to facilitate digital payments, order management, pricing and business data, helping brands and distributors reach fragmented retail networks more efficiently.

RedCloud serves markets in emerging economies, with a particular focus on Africa and other regions where traditional retail distribution is highly fragmented.