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

Rectitude Holdings, Ltd. (NASDAQ:RECT) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 9,200 shares, an increase of 19.5% from the October 15th total of 7,700 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily volume of 9,800 shares, the days-to-cover ratio is currently 0.9 days.

Rectitude Price Performance

RECT stock traded down $0.06 during mid-day trading on Friday, reaching $3.44. The company had a trading volume of 8,414 shares, compared to its average volume of 8,024. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.37. The company has a fifty day moving average of $3.28. Rectitude has a fifty-two week low of $2.70 and a fifty-two week high of $4.25.

Institutional Trading of Rectitude

A hedge fund recently bought a new stake in Rectitude stock. Frank Rimerman Advisors LLC acquired a new position in shares of Rectitude Holdings, Ltd. (NASDAQ:RECT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 14,000 shares of the company’s stock, valued at approximately $46,000. Frank Rimerman Advisors LLC owned about 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.