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

Rand Capital Corporation (NASDAQ:RAND) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 159 shares, a decline of 43.0% from the August 31st total of 279 shares. Based on an average daily trading volume, of 1,651 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Rand Capital Trading Up 1.3%

NASDAQ:RAND traded up $0.13 during midday trading on Wednesday, hitting $9.91. 715 shares of the company traded hands, compared to its average volume of 3,902. The firm’s fifty day moving average is $10.38 and its 200-day moving average is $10.64. Rand Capital has a 12-month low of $9.77 and a 12-month high of $17.49. The firm has a market capitalization of $29.43 million, a P/E ratio of -247.75 and a beta of 0.11. The company has a current ratio of 90.68, a quick ratio of 90.68 and a debt-to-equity ratio of 0.10.

Rand Capital (NASDAQ:RAND) last posted its quarterly earnings data on Wednesday, August 5th. The asset manager reported $0.24 EPS 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 company also recently declared 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 dividend on an annualized basis and a dividend yield of 11.7%. Rand Capital’s payout ratio is currently -2,900.00%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Rand Capital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Rand Capital presently has a consensus rating of “Hold”.

About Rand Capital

Rand Capital Corporation (NASDAQ: RAND) is a business development company that provides capital to small and mid-sized businesses, primarily through investments in privately held companies. The company seeks to support businesses with debt financing, subordinated debt, and equity investments, often working with management teams to help fund growth, acquisitions, recapitalizations, and other strategic initiatives.

Rand Capital typically focuses on lower-middle-market companies across a range of industries, including manufacturing, healthcare, technology, business services, and consumer products.