Castle Brands Inc (ROX) Sees Significant Decrease in Short Interest
Castle Brands Inc (NYSE:ROX) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,032,442 shares, a drop of 0.6% from the October 14th total of 1,039,120 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average daily volume of 103,015 shares, the short-interest ratio is currently 10.0 days.
Institutional investors have recently modified their holdings of the company. Bridgeway Capital Management Inc. raised its position in shares of Castle Brands by 59.4% in the second quarter. Bridgeway Capital Management Inc. now owns 939,187 shares of the company’s stock worth $688,000 after buying an additional 350,000 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Castle Brands during the second quarter worth approximately $179,000. Finally, Hartline Investment Corp raised its position in shares of Castle Brands by 0.3% in the third quarter. Hartline Investment Corp now owns 2,737,225 shares of the company’s stock worth $2,387,000 after buying an additional 8,050 shares during the last quarter.
Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Castle Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. TheStreet upgraded shares of Castle Brands from a “sell” rating to a “hold” rating in a research report on Monday, September 26th.
Shares of Castle Brands (NYSE:ROX) opened at 0.7665 on Friday. Castle Brands has a 12 month low of $0.70 and a 12 month high of $1.42. The firm’s 50-day moving average is $0.82 and its 200 day moving average is $0.84. The firm’s market capitalization is $123.14 million.
About Castle Brands
Castle Brands Inc develops and markets premium and super premium brands in the beverage alcohol categories. The Company is engaged in the sale of premium beverage alcohol. Its beverage alcohol categories include rum, whiskey, liqueurs, vodka and tequila. Its brands include Gosling’s rum, Gosling’s Stormy Ginger Beer, Gosling’s Dark ‘n Stormy ready-to-drink cocktail, Jefferson’s bourbon, Jefferson’s Reserve, Jefferson’s Ocean Aged at Sea, Jefferson’s Wine Finish Collection, Jefferson’s The Manhattan: Barrel Finished Cocktail, Jefferson’s Chef’s Collaboration, Jefferson’s Wood Experiment, Jefferson’s Presidential Select, Jefferson’s Rye whiskey, Pallini liqueurs, Clontarf Irish whiskey, Knappogue Castle Whiskey, Brady’s Irish Cream, Boru vodka, Tierras tequila, Celtic Honey liqueur and Gozio amaretto.
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