Castle Brands Inc (NYSEAMERICAN:ROX) rose 8% during trading on Friday . The stock traded as high as $1.28 and last traded at $1.22. Approximately 1,384,601 shares changed hands during trading, an increase of 228% from the average daily volume of 422,768 shares. The stock had previously closed at $1.13.

ROX has been the subject of several research reports. TheStreet upgraded shares of Castle Brands from a “d+” rating to a “c-” rating in a research note on Tuesday, November 28th. Zacks Investment Research upgraded shares of Castle Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, Roth Capital initiated coverage on shares of Castle Brands in a research note on Thursday, February 1st. They set a “buy” rating and a $2.60 price objective for the company.

Castle Brands (NYSEAMERICAN:ROX) last posted its earnings results on Thursday, February 8th. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $24.08 million during the quarter, compared to the consensus estimate of $20.51 million. Castle Brands had a net margin of 1.34% and a negative return on equity of 0.32%.

A number of hedge funds and other institutional investors have recently bought and sold shares of ROX. State Street Corp acquired a new position in Castle Brands during the second quarter valued at $1,669,000. Vanguard Group Inc. lifted its position in Castle Brands by 30.1% during the second quarter. Vanguard Group Inc. now owns 3,841,633 shares of the company’s stock valued at $6,608,000 after purchasing an additional 889,189 shares during the period. Northern Trust Corp lifted its position in Castle Brands by 501.7% during the second quarter. Northern Trust Corp now owns 973,335 shares of the company’s stock valued at $1,674,000 after purchasing an additional 811,570 shares during the period. TIAA CREF Investment Management LLC acquired a new position in Castle Brands during the second quarter valued at $401,000. Finally, Bank of New York Mellon Corp lifted its position in Castle Brands by 256.6% during the second quarter. Bank of New York Mellon Corp now owns 241,969 shares of the company’s stock valued at $416,000 after purchasing an additional 174,113 shares during the period.

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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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