Rectitude Holdings Ltd. (NASDAQ:RECT) Short Interest Update

Rectitude Holdings Ltd. (NASDAQ:RECT) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 41,358 shares, a drop of 40.8% from the April 30th total of 69,867 shares. Based on an average daily trading volume, of 25,938 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.3% of the company’s shares are short sold.

Rectitude Stock Performance

Shares of RECT traded down $0.07 during mid-day trading on Thursday, reaching $1.29. The company had a trading volume of 4,901 shares, compared to its average volume of 1,272,937. 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 firm has a 50-day moving average price of $1.34 and a 200 day moving average price of $1.56. Rectitude has a 52 week low of $1.00 and a 52 week high of $5.00.

Rectitude (NASDAQ:RECT) last released its quarterly earnings data on Saturday, March 21st. The company reported $0.07 earnings per share for the quarter. The company had revenue of $9.48 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Rectitude from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

About Rectitude

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.