Rand Capital Corporation (NASDAQ:RAND) Sees Significant Drop in Short Interest

Rand Capital Corporation (NASDAQ:RAND) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 6 shares, a drop of 99.7% from the March 31st total of 2,390 shares. Based on an average daily volume of 3,487 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are short sold.

Rand Capital Trading Down 1.4%

Shares of NASDAQ RAND opened at $10.91 on Friday. The company has a market cap of $32.39 million, a price-to-earnings ratio of -4.05 and a beta of 0.16. Rand Capital has a 12-month low of $10.05 and a 12-month high of $20.00. The stock’s 50 day simple moving average is $11.39 and its 200 day simple moving average is $12.44.

Rand Capital (NASDAQ:RAND) last announced its quarterly earnings results on Thursday, March 5th. The asset manager reported $0.20 earnings per share (EPS) for the quarter. The business had revenue of $1.29 million for the quarter. Rand Capital had a positive return on equity of 6.55% and a negative net margin of 124.17%.

Rand Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $1.16 annualized dividend and a dividend yield of 10.6%. Rand Capital’s dividend payout ratio (DPR) is -43.12%.

Institutional Trading of Rand Capital

An institutional investor recently raised its position in Rand Capital stock. O Shaughnessy Asset Management LLC raised its holdings in shares of Rand Capital Corporation (NASDAQ:RAND) by 15.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,851 shares of the asset manager’s stock after acquiring an additional 2,589 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.63% of Rand Capital worth $220,000 as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Rand Capital in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Rand Capital Company Profile

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.