Short Interest in Rand Capital Corporation (NASDAQ:RAND) Declines By 94.1%

Rand Capital Corporation (NASDAQ:RAND) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 279 shares, a decrease of 94.1% from the August 15th total of 4,764 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 7,702 shares, the short-interest ratio is presently 0.0 days.

Institutional Trading of Rand Capital

An institutional investor recently raised its position in Rand Capital stock. O Shaughnessy Asset Management LLC boosted its holdings in Rand Capital Corporation (NASDAQ:RAND) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,851 shares of the asset manager’s stock after buying an additional 2,589 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.63% of Rand Capital worth $220,000 as of its most recent SEC filing.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Rand Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Rand Capital Price Performance

Rand Capital stock traded down $0.35 during midday trading on Thursday, hitting $10.80. The company’s stock had a trading volume of 4,025 shares, compared to its average volume of 4,993. The company has a quick ratio of 90.68, a current ratio of 90.68 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $10.33 and its 200-day moving average price is $10.77. Rand Capital has a 12 month low of $10.00 and a 12 month high of $17.49. The company has a market capitalization of $32.07 million, a PE ratio of -269.93 and a beta of 0.11.

Rand Capital (NASDAQ:RAND) last posted its quarterly earnings data on Wednesday, August 5th. The asset manager reported $0.24 earnings per share for the quarter. Rand Capital had a negative net margin of 2.67% and a positive return on equity of 5.47%. The company had revenue of $1.39 million during the quarter.

Rand Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a $1.16 annualized dividend and a yield of 10.7%. Rand Capital’s dividend payout ratio is currently -2,900.00%.

About Rand Capital

Rand Capital Corporation is a publicly traded business development company (BDC) focused on providing financing solutions to growing businesses. Established in 1999 and headquartered near Buffalo, New York, Rand Capital seeks to partner with small to mid-size companies across a variety of industries. By leveraging its balance sheet, the firm aims to deliver flexible debt and equity investments designed to support expansion, acquisitions, working capital needs and other strategic initiatives.

The company’s financing activities span senior secured loans, subordinated debt, equity co-investments and royalty or revenue-based financing.