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Rubicon Technology (NASDAQ:RBCN) shares reached a new 52-week low on Friday , ARN reports. The company traded as low as $5.52 and last traded at $5.66, with a volume of 2,367,934 shares changing hands. The stock had previously closed at $7.49.

RBCN has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. downgraded shares of Rubicon Technology from an “overweight” rating to a “neutral” rating in a research note on Friday. They now have a $8.00 price target on the stock, down previously from $13.00. Separately, analysts at Canaccord Genuity downgraded shares of Rubicon Technology from a “buy” rating to a “hold” rating in a research note on Friday. They now have a $8.00 price target on the stock, down previously from $10.00. They noted that the move was a valuation call. Finally, 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. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $10.73.

The stock has a 50-day moving average of $8.42 and a 200-day moving average of $10.00. The company’s market cap is $153.3 million. Rubicon Technology also saw some unusual options trading activity on Thursday. Investors purchased 66 put options on the stock. This represents an increase of approximately 144% compared to the typical daily volume of 27 put options.

Rubicon Technology (NASDAQ:RBCN) last posted its quarterly earnings results 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. Analysts expect that Rubicon Technology will post $-1.29 EPS for the current fiscal year.

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

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