Rand Capital Corporation (NASDAQ:RAND) Sees Significant Drop in Short Interest

Rand Capital Corporation (NASDAQ:RAND) saw a large decrease in short interest in June. As of June 15th, there was short interest totaling 422 shares, a decrease of 60.4% from the May 31st total of 1,067 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 3,723 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Rand Capital

An institutional investor recently raised its position in Rand Capital stock. O Shaughnessy Asset Management LLC increased its position in Rand Capital Corporation (NASDAQ:RAND) by 15.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,851 shares of the asset manager’s stock after buying an additional 2,589 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.63% of Rand Capital worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rand Capital in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Rand Capital Trading Down 0.7%

RAND opened at $10.23 on Wednesday. The company has a market cap of $30.38 million, a P/E ratio of -3.30 and a beta of 0.08. The company has a current ratio of 82.98, a quick ratio of 82.98 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $10.66 and its 200-day moving average is $11.33. Rand Capital has a 1-year low of $10.00 and a 1-year high of $20.00.

Rand Capital (NASDAQ:RAND) last issued its earnings results on Wednesday, May 6th. The asset manager reported $0.18 earnings per share for the quarter. The firm had revenue of $1.24 million for the quarter. Rand Capital had a negative net margin of 162.06% and a positive return on equity of 5.87%.

Rand Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 27th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 11.3%. The ex-dividend date of this dividend was Wednesday, May 27th. Rand Capital’s dividend payout ratio is presently -37.42%.

About Rand Capital

Rand Capital Corporation is a publicly traded business development company (BDC) focused on providing financing solutions to growing businesses. Established in 1999 and headquartered near Buffalo, New York, Rand Capital seeks to partner with small to mid-size companies across a variety of industries. By leveraging its balance sheet, the firm aims to deliver flexible debt and equity investments designed to support expansion, acquisitions, working capital needs and other strategic initiatives.

The company’s financing activities span senior secured loans, subordinated debt, equity co-investments and royalty or revenue-based financing.