Short Interest in Rand Capital Corporation (NASDAQ:RAND) Decreases By 60.4%

Rand Capital Corporation (NASDAQ:RAND) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 422 shares, a drop of 60.4% from the May 31st total of 1,067 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 3,723 shares, the short-interest ratio is presently 0.1 days.

Rand Capital Stock Performance

Shares of RAND stock traded down $0.17 during trading hours on Monday, reaching $10.04. The company had a trading volume of 747 shares, compared to its average volume of 4,187. The business has a fifty day moving average price of $10.69 and a 200-day moving average price of $11.41. Rand Capital has a one year low of $10.00 and a one year high of $20.00. The firm has a market cap of $29.80 million, a PE ratio of -3.24 and a beta of 0.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 82.98 and a current ratio of 82.98.

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

Rand Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.16 dividend on an annualized basis and a yield of 11.6%. Rand Capital’s payout ratio is currently -37.42%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rand Capital in a report on Wednesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Rand Capital

A hedge fund recently bought a new position in Rand Capital stock. Ritholtz Wealth Management acquired a new position in Rand Capital Corporation (NASDAQ:RAND) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,089 shares of the asset manager’s stock, valued at approximately $126,000. Ritholtz Wealth Management owned 0.37% of Rand Capital at the end of the most recent reporting period.

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.