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

Rectitude Holdings, Ltd. (NASDAQ:RECT) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 15,600 shares, a growth of 15.6% from the November 15th total of 13,500 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 14,600 shares, the days-to-cover ratio is currently 1.1 days.

Rectitude Stock Performance

NASDAQ RECT traded down $0.17 during trading on Friday, reaching $5.90. The company’s stock had a trading volume of 10,837 shares, compared to its average volume of 18,484. Rectitude has a 12 month low of $2.70 and a 12 month high of $7.47. The company has a 50 day moving average of $3.95. The company has a quick ratio of 1.37, a current ratio of 1.86 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Rectitude

A hedge fund recently bought a new stake in Rectitude stock. Frank Rimerman Advisors LLC purchased a new position in shares of Rectitude Holdings, Ltd. (NASDAQ:RECT) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,000 shares of the company’s stock, valued at approximately $46,000. Frank Rimerman Advisors LLC owned 0.10% of Rectitude at the end of the most recent quarter.

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.