Castle Brands Inc (NYSE:ROX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “CASTLE BRANDS INC., is an emerging developer and international marketer of premium branded spirits within five growing categories of the spirits industry: vodka, rum, tequila, whiskey and liqueurs/cordials. Castle Brands’ portfolio includes Boru Vodka, Gosling’s Rum, Sea Wynde Rum, Tierras Tequila, Knappogue Castle Whiskey, Clontarf Irish Whiskey, Jefferson’s and Jefferson’s Reserve Bourbon, Sam Houston Bourbon, Celtic Crossing Liqueur, Pallini Limoncello, Raspicello and Peachcello and Brady’s Irish Cream. “

Separately, TheStreet upgraded Castle Brands from a “sell” rating to a “hold” rating in a report on Monday, September 26th.

Shares of Castle Brands (NYSE:ROX) opened at 0.79 on Thursday. Castle Brands has a 52 week low of $0.70 and a 52 week high of $1.36. The stock has a 50 day moving average price of $0.80 and a 200 day moving average price of $0.84. The stock’s market capitalization is $126.92 million.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hartline Investment Corp increased 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 in the last quarter. Bridgeway Capital Management Inc. boosted its stake in Castle Brands by 59.4% in the second quarter. Bridgeway Capital Management Inc. now owns 939,187 shares of the company’s stock valued at $688,000 after buying an additional 350,000 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Castle Brands during the second quarter valued at $179,000.

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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