RedCloud Holdings plc (NASDAQ:RCT) Short Interest Down 65.7% in April

RedCloud Holdings plc (NASDAQ:RCT) saw a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 1,213,691 shares, a decline of 65.7% from the April 15th total of 3,537,601 shares. Based on an average daily volume of 620,621 shares, the short-interest ratio is currently 2.0 days. Approximately 2.7% of the shares of the company are sold short.

Institutional Investors Weigh In On RedCloud

Several institutional investors have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of RedCloud during the 4th quarter worth approximately $38,000. Boyer Financial Services Inc. purchased a new stake in shares of RedCloud during the 4th quarter worth approximately $176,000. Finally, UBS Group AG boosted its stake in shares of RedCloud by 2,359.8% during the 3rd quarter. UBS Group AG now owns 328,365 shares of the company’s stock worth $594,000 after acquiring an additional 315,016 shares in the last quarter.

RedCloud Price Performance

Shares of NASDAQ:RCT traded down $0.05 during trading on Thursday, hitting $0.60. 708,867 shares of the stock were exchanged, compared to its average volume of 489,116. The company has a fifty day moving average price of $0.75 and a two-hundred day moving average price of $1.19. RedCloud has a 12-month low of $0.56 and a 12-month high of $5.36.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Roth Mkm reiterated a “buy” rating and set a $5.50 target price (up from $4.50) on shares of RedCloud in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of RedCloud in a research report on Friday, March 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $5.00 target price on shares of RedCloud in a research report on Thursday, January 15th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.