Rubicon Technology, Inc. (RBCN) Sees Significant Growth in Short Interest
Rubicon Technology, Inc. (NASDAQ:RBCN) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 104,614 shares, an increase of 25.6% from the April 28th total of 83,282 shares. Based on an average daily volume of 29,701 shares, the days-to-cover ratio is presently 3.5 days.
Rubicon Technology (NASDAQ:RBCN) opened at 9.275 on Friday. Rubicon Technology has a 1-year low of $0.46 and a 1-year high of $9.48. The stock’s market cap is $25.14 million. The stock has a 50 day moving average price of $4.31 and a 200-day moving average price of $1.52.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of Rubicon Technology by 0.9% in the fourth quarter. FMR LLC now owns 2,763,209 shares of the semiconductor company’s stock valued at $1,710,000 after buying an additional 24,335 shares during the period. River & Mercantile Asset Management LLP bought a new stake in shares of Rubicon Technology during the fourth quarter valued at about $288,000. Renaissance Technologies LLC boosted its stake in shares of Rubicon Technology by 17.8% in the fourth quarter. Renaissance Technologies LLC now owns 832,900 shares of the semiconductor company’s stock valued at $500,000 after buying an additional 126,000 shares during the period. Bandera Partners LLC bought a new stake in shares of Rubicon Technology during the first quarter valued at about $304,000. Finally, Royce & Associates LP boosted its stake in shares of Rubicon Technology by 4.0% in the first quarter. Royce & Associates LP now owns 801,705 shares of the semiconductor company’s stock valued at $668,000 after buying an additional 30,615 shares during the period. 45.29% of the stock is currently owned by institutional investors and hedge funds.
About Rubicon Technology
Rubicon Technology, Inc is a vertically integrated, electronic materials provider specializing in monocrystalline sapphire for applications in light-emitting diodes (LEDs), optical systems and specialty electronic devices. The Company’s product lines include sapphire cores; four and six-inch sapphire wafers; four, six, and eight-inch patterned sapphire substrate (PSS) wafers, and optical sapphire components.
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