Short Interest in Rand Capital Corporation (NASDAQ:RAND) Drops By 94.1%

Rand Capital Corporation (NASDAQ:RAND) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 279 shares, a drop of 94.1% from the August 15th total of 4,764 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 7,702 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Rand Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Rand Capital presently has an average rating of “Hold”.

Hedge Funds Weigh In On Rand Capital

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

Rand Capital Stock Down 0.7%

Rand Capital stock traded down $0.08 during midday trading on Friday, reaching $10.81. The stock had a trading volume of 426 shares, compared to its average volume of 4,011. The stock has a market capitalization of $32.10 million, a P/E ratio of -270.22 and a beta of 0.11. The firm’s fifty day simple moving average is $10.33 and its 200-day simple moving average is $10.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 90.68 and a current ratio of 90.68. Rand Capital has a 1-year low of $10.00 and a 1-year high of $17.49.

Rand Capital (NASDAQ:RAND) last issued its quarterly earnings results on Wednesday, August 5th. The asset manager reported $0.24 earnings per share for the quarter. Rand Capital had a negative net margin of 2.67% and a positive return on equity of 5.47%. The company had revenue of $1.39 million during the quarter.

Rand Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 10.7%. The ex-dividend date was Wednesday, August 26th. Rand Capital’s payout ratio is presently -2,900.00%.

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.