Share on StockTwits

Rubicon Technology, Inc. (NASDAQ:RBCN) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $(0.44)-(0.39) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.26), American Banking and Market News reports. The company issued revenue guidance of $8-12 million, compared to the consensus revenue estimate of $16.25 million.

A number of analysts have recently weighed in on RBCN shares. Analysts at Goldman Sachs initiated coverage on shares of Rubicon Technology in a research note on Wednesday, July 23rd. They set a sell rating and a $6.00 price target on the stock. On a related note, analysts at Canaccord Genuity reiterated a buy rating on shares of Rubicon Technology in a research note on Friday, June 6th. They now have a $10.00 price target on the stock, down previously from $14.00. Finally, analysts at Oppenheimer upgraded shares of Rubicon Technology from an underperform rating to a market perform rating in a research note on Friday, May 23rd. They now have a $7.50 price target on the stock. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $11.45.

Shares of Rubicon Technology, Inc. (NASDAQ:RBCN) traded down 1.45% on Thursday, hitting $7.49. 810,132 shares of the company’s stock traded hands. Rubicon Technology, Inc. has a one year low of $6.93 and a one year high of $14.67. The stock’s 50-day moving average is $8.42 and its 200-day moving average is $10.00. The company’s market cap is $195.9 million. Rubicon Technology also saw some unusual options trading on Thursday. Traders purchased 66 put options on the company. This represents an increase of approximately 144% compared to the typical volume of 27 put options.

Rubicon Technology (NASDAQ:RBCN) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.39) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.42) by $0.03. The company had revenue of $14.47 million for the quarter, compared to the consensus estimate of $14.40 million. During the same quarter in the prior year, the company posted ($0.26) earnings per share. The company’s quarterly revenue was up 37.1% on a year-over-year basis. On average, analysts predict that Rubicon Technology, Inc. will post $-1.29 earnings per share for the current fiscal year.

Rubicon Technology, Inc manufactures synthetic electronic materials for opto-electronic, semiconductor fabrication, telecommunications, and optical & laser applications.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.