Rectitude (NASDAQ:RECT) Shares Up 2.8% – Should You Buy?

Shares of Rectitude Holdings Ltd. (NASDAQ:RECT) shot up 2.8% during mid-day trading on Thursday . The stock traded as high as $1.33 and last traded at $1.2850. 1,535 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 53,423 shares. The stock had previously closed at $1.2504.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Rectitude from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Rectitude Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.93 and a current ratio of 2.53. The firm’s fifty day simple moving average is $1.24 and its 200 day simple moving average is $1.32.

Rectitude (NASDAQ:RECT) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.03 earnings per share for the quarter. The company had revenue of $10.47 million during the quarter.

Rectitude Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, September 21st. Investors of record on Monday, September 7th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 4th.

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.