Short Interest in Rand Capital Co. (NASDAQ:RAND) Drops By 76.5%

Rand Capital Co. (NASDAQ:RAND) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 1,900 shares, a drop of 76.5% from the March 31st total of 8,100 shares. Based on an average daily volume of 15,700 shares, the short-interest ratio is presently 0.1 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Rand Capital

An institutional investor recently bought a new position in Rand Capital stock. Courier Capital LLC bought a new position in Rand Capital Co. (NASDAQ:RAND) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,763 shares of the asset manager’s stock, valued at approximately $315,000. Courier Capital LLC owned about 0.56% of Rand Capital at the end of the most recent reporting period.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Rand Capital from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th.

Rand Capital Stock Performance

Rand Capital stock traded down $0.40 during midday trading on Tuesday, hitting $18.64. The company’s stock had a trading volume of 3,459 shares, compared to its average volume of 7,991. Rand Capital has a 1-year low of $13.82 and a 1-year high of $31.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 15.99 and a quick ratio of 15.99. The company has a 50-day moving average price of $20.72 and a two-hundred day moving average price of $19.77. The company has a market cap of $55.35 million, a price-to-earnings ratio of 3.74 and a beta of 0.40.

Rand Capital (NASDAQ:RAND) last announced its quarterly earnings results on Monday, March 10th. The asset manager reported $0.45 earnings per share (EPS) for the quarter. The company had revenue of $2.14 million for the quarter. Rand Capital had a net margin of 154.01% and a return on equity of 6.60%.

Rand Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.22%. Rand Capital’s dividend payout ratio (DPR) is presently 33.92%.

About Rand Capital

Rand Capital Corporation is a business development company specializing in subordinated debt with warrants or preferred equity and venture capital investments. Within private equity, the firm specializing in capital growth and lower middle market investments. Within venture capital, it specializing in early to late-stage private businesses.