Short Interest in Rectitude Holdings, Ltd. (NASDAQ:RECT) Decreases By 58.9%

Rectitude Holdings, Ltd. (NASDAQ:RECT) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 10,200 shares, a drop of 58.9% from the December 15th total of 24,800 shares. Based on an average daily trading volume, of 17,400 shares, the short-interest ratio is currently 0.6 days. Currently, 0.4% of the shares of the company are sold short.

Rectitude Stock Performance

Rectitude stock traded down $0.36 during mid-day trading on Monday, hitting $6.60. The company had a trading volume of 33,877 shares, compared to its average volume of 30,853. The company has a current ratio of 1.86, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average is $5.30 and its 200-day moving average is $3.96. Rectitude has a 12-month low of $2.70 and a 12-month high of $7.68.

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 second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

About Rectitude

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.