Key Points
- Director Nikolaus Beat Senn purchased 2.5 million RedCloud shares at $0.25 each, investing $625,000 and increasing his direct ownership by 32.67% to 10.15 million shares.
- RedCloud shares opened at $0.22, near the lower end of their 52-week range of $0.17 to $2.39; the stock’s 50-day and 200-day moving averages were $0.23 and $0.56, respectively.
- UBS Group increased its RedCloud holdings by 2,359.8% to 328,365 shares, while analysts’ consensus rating remained “Hold” with a $5.25 target price; Weiss Ratings maintained a “sell (e+)” rating.
RedCloud Holdings plc (NASDAQ:RCT - Get Free Report) Director Nikolaus Beat Senn purchased 2,500,000 shares of the firm's stock in a transaction dated 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 purchase, the director directly owned 10,151,524 shares of the company's stock, valued at approximately $2,537,881. This represents a 32.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
RedCloud Price Performance
Shares of NASDAQ:RCT opened at $0.22 on Thursday. RedCloud Holdings plc has a 52-week low of $0.17 and a 52-week high of $2.39. The business's 50 day moving average is $0.23 and its 200 day moving average is $0.56.
Institutional Investors Weigh In On RedCloud
A hedge fund recently raised its position in RedCloud stock. UBS Group AG increased its holdings in shares of RedCloud Holdings plc (NASDAQ:RCT - Free Report) by 2,359.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 328,365 shares of the company's stock after purchasing an additional 315,016 shares during the period. UBS Group AG owned 0.83% of RedCloud worth $594,000 as of its most recent SEC filing.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of RedCloud in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, RedCloud has a consensus rating of "Hold" and a consensus target price of $5.25.
View Our Latest Analysis on RCT
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
