Rubicon Technology (NASDAQ:RBCN) Shares Cross Above Two Hundred Day Moving Average of $8.27

Rubicon Technology, Inc. (NASDAQ:RBCN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.27 and traded as high as $9.44. Rubicon Technology shares last traded at $9.44, with a volume of 492 shares trading hands.

The stock has a 50-day simple moving average of $8.86 and a two-hundred day simple moving average of $8.27.

In other news, CEO Timothy Brog purchased 7,600 shares of the stock in a transaction on Thursday, June 6th. The shares were acquired at an average price of $8.00 per share, for a total transaction of $60,800.00. Following the completion of the transaction, the chief executive officer now directly owns 44,600 shares of the company’s stock, valued at approximately $356,800. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 13.90% of the company’s stock.

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% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,288 shares of the semiconductor company’s stock after buying an additional 12,920 shares during the period. Renaissance Technologies LLC owned approximately 4.37% of Rubicon Technology worth $973,000 as of its most recent SEC filing. 27.83% of the stock is owned by hedge funds and other institutional investors.

About Rubicon Technology (NASDAQ:RBCN)

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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