Short Interest in Rubicon Technology, Inc. (NASDAQ:RBCN) Drops By 34.2%
Rubicon Technology, Inc. (NASDAQ:RBCN) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 48,400 shares, a decline of 34.2% from the July 31st total of 73,600 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 3,800 shares, the short-interest ratio is presently 12.7 days.
A hedge fund recently raised its stake in Rubicon Technology stock. Renaissance Technologies LLC lifted its stake in Rubicon Technology, Inc. (NASDAQ:RBCN) by 12.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,288 shares of the semiconductor company’s stock after acquiring an additional 12,920 shares during the quarter. Renaissance Technologies LLC owned 4.37% of Rubicon Technology worth $973,000 as of its most recent filing with the Securities & Exchange Commission. 23.94% of the stock is currently owned by institutional investors.
Rubicon Technology stock traded down $0.13 during trading hours on Thursday, hitting $8.67. The stock had a trading volume of 2,900 shares, compared to its average volume of 4,730. Rubicon Technology has a 12-month low of $7.24 and a 12-month high of $9.87. The stock’s 50-day moving average price is $9.14 and its 200-day moving average price is $8.36.
Rubicon Technology, Inc provides monocrystalline sapphire for applications in optical and industrial systems. It offers optical and industrial sapphire products in various shapes and sizes, including round and rectangular windows and wafers, domes, tubes, and rods for a range of end markets comprising defense and aerospace, specialty lighting, instrumentation, sensors and detectors, semiconductor process equipment, electronic substrates, medical, and laser applications.
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