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

Rectitude Holdings Ltd. (NASDAQ:RECT – Get Free Report) was the target of a large decrease in short interest in 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 stock are sold short.

Wall Street Analysts Forecast Growth

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 analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

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Rectitude Stock Down 1.5%

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

Rectitude (NASDAQ:RECT – Get Free Report) last issued its quarterly earnings data on Saturday, March 21st. The company reported $0.07 EPS for the quarter. The business had revenue of $9.48 million during the quarter.

Rectitude Company Profile

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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.

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