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

Rectitude Holdings Ltd. (NASDAQ:RECTGet Free Report) was the target of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 20,145 shares, a growth of 141.2% from the July 30th total of 8,352 shares. Based on an average daily trading volume, of 101,033 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are sold short.

Rectitude Stock Up 5.1%

Shares of NASDAQ RECT traded up $0.07 during mid-day trading on Friday, reaching $1.35. 7,517 shares of the company were exchanged, compared to its average volume of 826,620. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.93 and a current ratio of 2.53. Rectitude has a 52 week low of $0.96 and a 52 week high of $4.98. The company’s 50 day moving average price is $1.24 and its 200 day moving average price is $1.32.

Rectitude (NASDAQ:RECTGet Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $10.47 million during the quarter.

Rectitude Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, September 21st. Investors of record on Monday, September 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 4th.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Rectitude from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Rectitude presently has a consensus rating of “Sell”.

Read Our Latest Stock Analysis on RECT

Rectitude Company Profile

(Get Free Report)

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.

Further Reading

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