Rectitude Holdings, Ltd.’s Lock-Up Period To Expire on December 18th (NASDAQ:RECT)

Rectitude’s (NASDAQ:RECT) lock-up period will end on Wednesday, December 18th. Rectitude had issued 2,000,000 shares in its public offering on June 21st. The total size of the offering was $8,000,000 based on an initial share price of $4.00. After the end of Rectitude’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Rectitude Stock Down 0.7 %

Shares of NASDAQ RECT opened at $6.07 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. Rectitude has a fifty-two week low of $2.70 and a fifty-two week high of $7.47. The company has a 50-day simple moving average of $3.90.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Rectitude stock. Frank Rimerman Advisors LLC acquired a new stake in shares of Rectitude Holdings, Ltd. (NASDAQ:RECT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,000 shares of the company’s stock, valued at approximately $46,000. Frank Rimerman Advisors LLC owned approximately 0.10% of Rectitude at the end of the most recent 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.