Short Interest in Rand Capital Corporation (NASDAQ:RAND) Grows By 100.0%

Key Points

• Rand Capital Corporation experienced a significant increase in short interest in July, with shares sold short rising by 100% to 5,400 shares.
• A hedge fund, Courier Capital LLC, acquired 16,763 shares of Rand Capital, totaling approximately $315,000.
• Rand Capital announced a quarterly dividend of $0.29, resulting in an annualized dividend yield of 6.4%.

Rand Capital Corporation (NASDAQ:RAND - Get Free Report) saw a significant increase in short interest in July. As of July 15th, there was short interest totaling 5,400 shares, anincreaseof100.0% from the June 30th total of 2,700 shares. Currently,0.8% of the company's shares are short sold. Based on an average trading volume of 5,600 shares, the days-to-cover ratio is currently 1.0 days. Based on an average trading volume of 5,600 shares, the days-to-cover ratio is currently 1.0 days. Currently,0.8% of the company's shares are short sold.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Rand Capital from a "hold" rating to a "buy" rating in a report on Friday, May 16th.

Rand Capital Trading Up 0.1%

RAND traded up $0.01 during trading on Friday, reaching $17.01. The stock had a trading volume of 2,261 shares, compared to its average volume of 5,154. The stock's 50 day moving average is $16.78 and its two-hundred day moving average is $19.25. The company has a market capitalization of $50.52 million, a price-to-earnings ratio of -7.00 and a beta of 0.27. Rand Capital has a one year low of $14.95 and a one year high of $31.89.

Rand Capital (NASDAQ:RAND - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The asset manager reported $0.33 earnings per share (EPS) for the quarter. The business had revenue of $1.60 million during the quarter. Rand Capital had a positive return on equity of 6.97% and a negative net margin of 90.42%.

Rand Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 6.8%. Rand Capital's dividend payout ratio is -47.74%.

Hedge Funds Weigh In On Rand Capital

An institutional investor recently bought a new position in Rand Capital stock. Courier Capital LLC purchased a new stake in shares of Rand Capital Corporation (NASDAQ:RAND - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,763 shares of the asset manager's stock, valued at approximately $315,000. Courier Capital LLC owned approximately 0.56% of Rand Capital at the end of the most recent reporting period.

Rand Capital Company Profile

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.