Rand Capital Corporation (NASDAQ:RAND) Sees Large Decline in Short Interest

Rand Capital Corporation (NASDAQ:RAND) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 108 shares, a decline of 74.4% from the June 15th total of 422 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 1,856 shares, the short-interest ratio is presently 0.1 days.

Rand Capital Stock Down 1.0%

RAND stock traded down $0.10 during trading hours on Friday, reaching $10.20. 1,652 shares of the stock were exchanged, compared to its average volume of 1,617. The firm’s 50-day moving average is $10.54 and its 200-day moving average is $11.06. The company has a market cap of $30.29 million, a price-to-earnings ratio of -3.29 and a beta of 0.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 82.98 and a quick ratio of 82.98. Rand Capital has a 12 month low of $10.00 and a 12 month high of $20.00.

Rand Capital (NASDAQ:RAND) last released its earnings results on Wednesday, May 6th. The asset manager reported $0.18 EPS for the quarter. The firm had revenue of $1.24 million for the quarter. Rand Capital had a positive return on equity of 5.87% and a negative net margin of 162.06%.

Rand Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 27th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date of this dividend was Wednesday, May 27th. Rand Capital’s dividend payout ratio (DPR) is -37.42%.

Hedge Funds Weigh In On Rand Capital

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rand Capital in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

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.