Rubicon Technology (NASDAQ:RBCN) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of Rubicon Technology (NASDAQ:RBCN) from a hold rating to a buy rating in a report published on Thursday morning, ValuEngine reports.

RBCN traded up $0.06 during midday trading on Thursday, reaching $7.66. 611 shares of the company’s stock were exchanged, compared to its average volume of 9,995. The firm has a market capitalization of $20.28 million, a price-to-earnings ratio of -18.24 and a beta of 0.60. Rubicon Technology has a one year low of $7.15 and a one year high of $10.09. The business has a 50-day simple moving average of $8.40 and a two-hundred day simple moving average of $8.58.

A hedge fund recently raised its stake in Rubicon Technology stock. Renaissance Technologies LLC raised its position in shares of Rubicon Technology, Inc. (NASDAQ:RBCN) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,104 shares of the semiconductor company’s stock after buying an additional 2,900 shares during the period. Renaissance Technologies LLC owned about 4.73% of Rubicon Technology worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Rubicon Technology Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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