Short Interest in Rectitude Holdings Ltd. (NASDAQ:RECT) Declines By 45.2%

Rectitude Holdings Ltd. (NASDAQ:RECT) saw a significant decrease in short interest in June. As of June 15th, there was short interest totaling 12,860 shares, a decrease of 45.2% from the May 31st total of 23,485 shares. Based on an average daily trading volume, of 16,757 shares, the short-interest ratio is currently 0.8 days. Approximately 0.1% of the company’s shares are sold short.

Rectitude Trading Up 0.8%

Shares of RECT stock traded up $0.01 during mid-day trading on Wednesday, reaching $1.25. 5,845 shares of the company’s stock traded hands, compared to its average volume of 1,089,987. Rectitude has a 12 month low of $0.96 and a 12 month high of $5.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.65 and a current ratio of 2.25. The company’s 50-day moving average price is $1.30 and its 200-day moving average price is $1.46.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Rectitude from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

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. Rectitude Holdings Ltd is based in SINGAPORE.