Rectitude Holdings Ltd. (NASDAQ:RECT) Short Interest Down 43.2% in May

Rectitude Holdings Ltd. (NASDAQ:RECT) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 23,485 shares, a drop of 43.2% from the May 14th total of 41,358 shares. Based on an average daily trading volume, of 33,780 shares, the short-interest ratio is currently 0.7 days. Currently, 0.2% of the shares of the stock are short sold.

Rectitude Trading Down 0.8%

Rectitude stock opened at $1.20 on Friday. The firm has a 50-day moving average price of $1.34 and a 200-day moving average price of $1.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.65 and a current ratio of 2.25. Rectitude has a 12-month low of $0.96 and a 12-month high of $5.00.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of 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, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Rectitude Company Profile

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.