Short Interest in Rectitude Holdings, Ltd. (NASDAQ:RECT) Expands By 19.5%

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

Hedge Funds Weigh In On Rectitude

A hedge fund recently bought a new stake in Rectitude stock. Frank Rimerman Advisors LLC purchased a new position in Rectitude Holdings, Ltd. (NASDAQ:RECT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 14,000 shares of the company’s stock, valued at approximately $46,000. Frank Rimerman Advisors LLC owned approximately 0.10% of Rectitude at the end of the most recent reporting period.

Rectitude Stock Performance

NASDAQ:RECT traded down $0.06 during trading hours on Friday, hitting $3.44. The company had a trading volume of 8,414 shares, compared to its average volume of 8,024. The company has a quick ratio of 1.37, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The company’s 50-day simple moving average is $3.28. Rectitude has a 52 week low of $2.70 and a 52 week high of $4.25.

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.