Castle Brands Inc (NYSEAMERICAN:ROX) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 7,299,797 shares, a decline of 3.1% from the November 15th total of 7,535,438 shares. Based on an average daily volume of 529,057 shares, the days-to-cover ratio is presently 13.8 days. Currently, 8.2% of the company’s stock are short sold.

Shares of Castle Brands (NYSEAMERICAN ROX) opened at $1.25 on Tuesday. Castle Brands has a 52 week low of $0.65 and a 52 week high of $2.22.

Several equities research analysts recently weighed in on the company. Barrington Research boosted their target price on Castle Brands from $1.80 to $2.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 3rd. TheStreet upgraded Castle Brands from a “d+” rating to a “c-” rating in a research note on Tuesday, November 28th. Finally, Zacks Investment Research upgraded Castle Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System purchased a new stake in Castle Brands in the second quarter valued at approximately $265,000. State Street Corp purchased a new stake in Castle Brands in the second quarter valued at approximately $1,669,000. Manatuck Hill Partners LLC lifted its stake in Castle Brands by 15.4% in the second quarter. Manatuck Hill Partners LLC now owns 750,000 shares of the company’s stock valued at $1,290,000 after buying an additional 100,000 shares during the last quarter. EAM Investors LLC lifted its stake in Castle Brands by 89.1% in the second quarter. EAM Investors LLC now owns 772,792 shares of the company’s stock valued at $1,329,000 after buying an additional 364,209 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Castle Brands by 30.1% in the second quarter. Vanguard Group Inc. now owns 3,841,633 shares of the company’s stock valued at $6,608,000 after buying an additional 889,189 shares during the last quarter.

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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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