Short Interest in Rectitude Holdings Ltd. (NASDAQ:RECT) Declines By 77.0%

Rectitude Holdings Ltd. (NASDAQ:RECT) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 69,867 shares, a decrease of 77.0% from the April 15th total of 303,903 shares. Based on an average daily volume of 359,611 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the shares of the company are short sold.

Rectitude Price Performance

RECT traded down $0.02 during trading on Wednesday, hitting $1.28. The stock had a trading volume of 7,068 shares, compared to its average volume of 278,031. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.65 and a current ratio of 2.25. The company’s 50-day moving average price is $1.37 and its 200 day moving average price is $1.68. Rectitude has a twelve month low of $1.00 and a twelve month high of $5.00.

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

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of 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 data from MarketBeat, the company has an average 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.