Rectitude Holdings, Ltd.’s Lock-Up Period Set To End Tomorrow (NASDAQ:RECT)

Rectitude’s (NASDAQ:RECT) lock-up period is set to end on Wednesday, December 18th. Rectitude had issued 2,000,000 shares in its initial public offering on June 21st. The total size of the offering was $8,000,000 based on an initial share price of $4.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Rectitude Price Performance

RECT opened at $6.19 on Tuesday. Rectitude has a 12-month low of $2.70 and a 12-month high of $7.47. 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 stock’s fifty day moving average price is $4.00.

Institutional Investors Weigh In On Rectitude

An institutional investor recently bought a new position in Rectitude stock. Frank Rimerman Advisors LLC acquired a new position in shares of Rectitude Holdings, Ltd. (NASDAQ:RECT) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 14,000 shares of the company’s stock, valued at approximately $46,000. Frank Rimerman Advisors LLC owned about 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.