Short Interest in Rand Capital Corporation (NASDAQ:RAND) Drops By 92.4%

Rand Capital Corporation (NASDAQ:RAND) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 235 shares, a drop of 92.4% from the February 26th total of 3,086 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 5,856 shares, the short-interest ratio is currently 0.0 days.

Rand Capital Trading Down 2.6%

Shares of RAND traded down $0.32 on Thursday, reaching $11.64. 895 shares of the company’s stock were exchanged, compared to its average volume of 5,204. The business has a 50 day moving average price of $11.35 and a two-hundred day moving average price of $12.98. Rand Capital has a 12 month low of $10.05 and a 12 month high of $21.30. The stock has a market capitalization of $34.56 million, a P/E ratio of -4.33 and a beta of 0.19.

Rand Capital (NASDAQ:RAND) last announced its quarterly earnings data on Thursday, March 5th. The asset manager reported $0.20 earnings per share (EPS) for the quarter. The firm had revenue of $1.29 million for the quarter. Rand Capital had a negative net margin of 124.17% and a positive return on equity of 6.55%.

Rand Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 10.0%. Rand Capital’s payout ratio is -43.12%.

Hedge Funds Weigh In On Rand Capital

A hedge fund recently raised its stake in Rand Capital stock. O Shaughnessy Asset Management LLC raised its stake in shares of Rand Capital Corporation (NASDAQ:RAND) by 15.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,851 shares of the asset manager’s stock after buying an additional 2,589 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.63% of Rand Capital worth $220,000 at the end of the most recent reporting period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Rand Capital in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Rand Capital has an average rating of “Sell”.

Rand Capital Company Profile

Rand Capital Corporation is a publicly traded business development company (BDC) focused on providing financing solutions to growing businesses. Established in 1999 and headquartered near Buffalo, New York, Rand Capital seeks to partner with small to mid-size companies across a variety of industries. By leveraging its balance sheet, the firm aims to deliver flexible debt and equity investments designed to support expansion, acquisitions, working capital needs and other strategic initiatives.

The company’s financing activities span senior secured loans, subordinated debt, equity co-investments and royalty or revenue-based financing.