Rectitude Holdings Ltd. (NASDAQ:RECT) Sees Significant Drop in Short Interest

Rectitude Holdings Ltd. (NASDAQ:RECT) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 69,867 shares, a drop of 77.0% from the April 15th total of 303,903 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 359,611 shares, the days-to-cover ratio is presently 0.2 days.

Rectitude Price Performance

Rectitude stock traded down $0.01 during trading hours on Friday, hitting $1.26. 10,012 shares of the company traded hands, compared to its average volume of 62,135. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $1.36 and its two-hundred day simple moving average is $1.66. Rectitude has a 1-year low of $1.00 and a 1-year high of $5.00.

Rectitude (NASDAQ:RECT) last released its earnings results on Saturday, March 21st. The company reported $0.07 EPS for the quarter. The business had revenue of $9.48 million during the quarter.

Analyst Ratings Changes

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