Rectitude Holdings, Ltd. (NASDAQ:RECT) Sees Significant Increase in Short Interest

Rectitude Holdings, Ltd. (NASDAQ:RECT) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 15,600 shares, an increase of 15.6% from the November 15th total of 13,500 shares. Based on an average daily volume of 14,600 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.7% of the company’s stock are short sold.

Rectitude Price Performance

NASDAQ RECT traded down $0.17 during trading hours on Friday, reaching $5.90. 10,837 shares of the company’s stock were exchanged, compared to its average volume of 18,484. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 1.86. The business’s 50-day moving average price is $3.95. Rectitude has a one year low of $2.70 and a one year high of $7.47.

Institutional Investors Weigh In On Rectitude

A hedge fund recently bought a new stake in Rectitude stock. Frank Rimerman Advisors LLC purchased a new position in shares of Rectitude Holdings, Ltd. (NASDAQ:RECT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 14,000 shares of the company’s stock, valued at approximately $46,000. Frank Rimerman Advisors LLC owned approximately 0.10% of Rectitude at the end of the most recent reporting period.

Rectitude Company Profile

Rectitude Holdings Ltd is principally involved in the provision of safety equipment, encompassing essential items such as personal protective clothing, gloves, safety footwear, personal fall arrest systems, portable fire extinguishers and traffic products. The Company also offers auxiliary products such as industrial hardware tools and electrical hardware required for construction sites.