Short Interest in Rectitude Holdings Ltd. (NASDAQ:RECT) Declines By 43.2%

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

Analysts Set New Price Targets

Separately, Weiss Ratings cut Rectitude from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Rectitude currently has an average rating of “Sell”.

Rectitude Trading Down 5.6%

Rectitude stock traded down $0.08 during trading hours on Tuesday, hitting $1.28. The stock had a trading volume of 14,317 shares, compared to its average volume of 1,185,071. The company has a 50-day moving average of $1.34 and a two-hundred day moving average of $1.51. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.13. Rectitude has a fifty-two week low of $0.96 and a fifty-two week high of $5.00.

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

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.