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

Rand Capital Corporation (NASDAQ:RAND) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totaling 1,300 shares, agrowthof44.4% from the July 31st total of 900 shares. Currently,0.2% of the shares of the stock are short sold. Based on an average trading volume of 5,400 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 5,400 shares, the days-to-cover ratio is presently 0.2 days. Currently,0.2% of the shares of the stock are short sold.

Institutional Trading of Rand Capital

A hedge fund recently bought a new stake in Rand Capital stock. Courier Capital LLC acquired a new position in shares of Rand Capital Corporation (NASDAQ:RAND) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 16,763 shares of the asset manager’s stock, valued at approximately $315,000. Courier Capital LLC owned about 0.56% of Rand Capital at the end of the most recent reporting period.

Rand Capital Price Performance

Rand Capital stock traded up $0.12 during mid-day trading on Monday, hitting $15.03. 4,899 shares of the company were exchanged, compared to its average volume of 10,038. The business’s 50 day simple moving average is $16.81 and its two-hundred day simple moving average is $18.02. The company has a market capitalization of $44.64 million, a P/E ratio of -6.19 and a beta of 0.25. Rand Capital has a 12-month low of $13.82 and a 12-month high of $31.89.

Rand Capital (NASDAQ:RAND) last issued its quarterly earnings results on Monday, August 4th. The asset manager reported $0.33 earnings per share for the quarter. Rand Capital had a positive return on equity of 6.97% and a negative net margin of 90.42%.The company had revenue of $1.60 million for the quarter.

Rand Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a $0.29 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 7.7%. Rand Capital’s dividend payout ratio is -47.74%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Rand Capital from a “hold” rating to a “buy” rating in a research report on Friday, May 16th.

About Rand Capital

Rand Capital Corporation is a business development company specializing in subordinated debt with warrants or preferred equity and venture capital investments. Within private equity, the firm specializing in capital growth and lower middle market investments. Within venture capital, it specializing in early to late-stage private businesses.