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

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

Wall Street Analyst Weigh In

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

Rectitude Price Performance

RECT traded up $0.16 on Monday, reaching $1.36. The company had a trading volume of 35,749 shares, compared to its average volume of 1,195,432. Rectitude has a 1 year low of $0.96 and a 1 year high of $5.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.25 and a quick ratio of 1.65. The stock has a 50-day moving average price of $1.34 and a 200-day moving average price of $1.52.

Rectitude (NASDAQ:RECT) last announced 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 during the quarter.

About Rectitude

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.