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

Rectitude’s (NASDAQ:RECT) lock-up period will expire on Wednesday, December 18th. Rectitude had issued 2,000,000 shares in its initial public offering on June 21st. The total size of the offering was $8,000,000 based on an initial share price of $4.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Rectitude Price Performance

RECT opened at $6.33 on Wednesday. The business’s fifty day moving average is $3.79. The company has a quick ratio of 1.37, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. Rectitude has a 12 month low of $2.70 and a 12 month high of $7.47.

Institutional Investors Weigh In On Rectitude

A hedge fund recently bought a new stake in Rectitude stock. Frank Rimerman Advisors LLC purchased a new position in shares of Rectitude Holdings, Ltd. (NASDAQ:RECT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,000 shares of the company’s stock, valued at approximately $46,000. Frank Rimerman Advisors LLC owned 0.10% of Rectitude as of its most recent SEC filing.

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.