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

Rectitude's (NASDAQ:RECT - Get Free Report) 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. After the end of Rectitude's lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Rectitude Price Performance

RECT stock traded down $0.22 during trading on Wednesday, hitting $6.11. 12,747 shares of the company's stock traded hands, compared to its average volume of 18,612. The firm has a fifty day simple moving average of $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 52 week low of $2.70 and a 52 week high of $7.47.

Institutional Trading of Rectitude

An institutional investor recently bought a new position in Rectitude stock. Frank Rimerman Advisors LLC bought a new stake in shares of Rectitude Holdings, Ltd. (NASDAQ:RECT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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 reporting period.

Rectitude Company Profile

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.