Castle Brands Inc (ROX) Sees Significant Growth in Short Interest

Castle Brands Inc (NYSEAMERICAN:ROX) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 4,320,451 shares, a growth of 7.1% from the January 15th total of 4,035,653 shares. Approximately 4.8% of the company’s stock are short sold. Based on an average daily trading volume, of 176,796 shares, the days-to-cover ratio is presently 24.4 days.

ROX has been the subject of several recent research reports. Barrington Research set a $2.00 target price on shares of Castle Brands and gave the stock a “buy” rating in a report on Monday, November 12th. Maxim Group initiated coverage on shares of Castle Brands in a report on Wednesday, January 16th. They set a “hold” rating for the company.

In related news, Director Phillip Md Et Al Frost purchased 75,000 shares of Castle Brands stock in a transaction dated Thursday, December 27th. The stock was bought at an average price of $0.83 per share, for a total transaction of $62,250.00. Following the completion of the acquisition, the director now directly owns 794,776 shares of the company’s stock, valued at $659,664.08. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought 211,500 shares of company stock valued at $175,420 in the last quarter.

A number of hedge funds have recently made changes to their positions in ROX. Bristlecone Advisors LLC bought a new position in shares of Castle Brands in the fourth quarter valued at about $31,000. SG Americas Securities LLC bought a new position in Castle Brands during the fourth quarter worth about $39,000. Citadel Advisors LLC bought a new position in Castle Brands during the third quarter worth about $104,000. Rhumbline Advisers increased its position in Castle Brands by 49.0% during the fourth quarter. Rhumbline Advisers now owns 113,675 shares of the company’s stock worth $97,000 after acquiring an additional 37,400 shares during the period. Finally, Virtu Financial LLC increased its position in Castle Brands by 360.5% during the third quarter. Virtu Financial LLC now owns 115,988 shares of the company’s stock worth $125,000 after acquiring an additional 90,802 shares during the period.

ROX stock traded down $0.03 during trading hours on Monday, reaching $0.80. The stock had a trading volume of 564,736 shares, compared to its average volume of 216,202. Castle Brands has a fifty-two week low of $0.74 and a fifty-two week high of $1.42.

Castle Brands (NYSEAMERICAN:ROX) last announced its quarterly earnings results on Friday, February 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The business had revenue of $22.54 million for the quarter, compared to analysts’ expectations of $26.20 million.

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About Castle Brands

Castle Brands Inc, together with its subsidiaries, develops, markets, imports, and sells beverage alcohol and non-alcoholic beverage products in the United States, Canada, Europe, and Asia. The company offers premium and super premium rums, whiskey, liqueurs, vodka, tequila, wine, amaretto, and other spirits, as well as ginger beer and ready-to-drink cocktails.

See Also: Depreciation

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