Castle Brands Inc (ROX) Sees Significant Growth in Short Interest
Castle Brands Inc (NYSE:ROX) was the recipient of a large increase in short interest in the month of September. As of September 29th, there was short interest totalling 5,686,978 shares, an increase of 5.0% from the September 15th total of 5,414,577 shares. Approximately 6.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,051,640 shares, the short-interest ratio is currently 5.4 days.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in Castle Brands by 28.4% during the 1st quarter. Bank of New York Mellon Corp now owns 67,856 shares of the company’s stock worth $106,000 after buying an additional 15,007 shares in the last quarter. Rhumbline Advisers bought a new stake in Castle Brands during the 2nd quarter worth about $141,000. Schwab Charles Investment Management Inc. bought a new stake in Castle Brands during the 2nd quarter worth about $256,000. California State Teachers Retirement System bought a new stake in Castle Brands during the 2nd quarter worth about $265,000. Finally, Teachers Advisors LLC bought a new stake in Castle Brands during the 2nd quarter worth about $266,000.
ROX has been the topic of several research analyst reports. Barrington Research raised their target price on shares of Castle Brands from $1.80 to $2.00 and gave the company an “outperform” rating in a research note on Tuesday, October 3rd. Zacks Investment Research cut shares of Castle Brands from a “hold” rating to a “sell” rating in a research note on Friday.
Castle Brands (NYSE ROX) traded up 0.76% during trading on Tuesday, reaching $1.33. 654,356 shares of the company’s stock traded hands. Castle Brands has a 12 month low of $0.65 and a 12 month high of $2.22. The firm’s 50 day moving average is $1.38 and its 200-day moving average is $1.66. The company’s market capitalization is $218.53 million.
Castle Brands (NYSE:ROX) last issued its quarterly earnings results on Wednesday, August 9th. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $20.85 million for the quarter, compared to analyst estimates of $18.18 million. Castle Brands had a negative return on equity of 201.80% and a negative net margin of 4.15%. Analysts expect that Castle Brands will post $0.01 EPS for the current fiscal year.
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About Castle Brands
Castle Brands Inc develops and markets premium and super premium brands in the beverage alcohol categories. The Company is engaged in the sale of premium beverage alcohol. Its beverage alcohol categories include rum, whiskey, liqueurs, vodka and tequila. Its brands include Gosling’s rum, Gosling’s Stormy Ginger Beer, Gosling’s Dark ‘n Stormy ready-to-drink cocktail, Jefferson’s bourbon, Jefferson’s Reserve, Jefferson’s Ocean Aged at Sea, Jefferson’s Wine Finish Collection, Jefferson’s The Manhattan: Barrel Finished Cocktail, Jefferson’s Chef’s Collaboration, Jefferson’s Wood Experiment, Jefferson’s Presidential Select, Jefferson’s Rye whiskey, Pallini liqueurs, Clontarf Irish whiskey, Knappogue Castle Whiskey, Brady’s Irish Cream, Boru vodka, Tierras tequila, Celtic Honey liqueur and Gozio amaretto.
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