Rubicon Technology, Inc. (NASDAQ:RBCN) Sees Significant Decline in Short Interest

Rubicon Technology, Inc. (NASDAQ:RBCN) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 73,600 shares, a decrease of 6.6% from the June 30th total of 78,800 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 3,900 shares, the days-to-cover ratio is currently 18.9 days.

In related news, CEO Timothy Brog purchased 7,600 shares of the stock in a transaction dated Thursday, June 6th. The shares were acquired at an average cost of $8.00 per share, with a total value of $60,800.00. Following the purchase, the chief executive officer now directly owns 44,600 shares in the company, valued at approximately $356,800. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.90% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in Rubicon Technology stock. Renaissance Technologies LLC lifted its stake in shares of Rubicon Technology, Inc. (NASDAQ:RBCN) by 12.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 117,288 shares of the semiconductor company’s stock after purchasing an additional 12,920 shares during the quarter. Renaissance Technologies LLC owned about 4.37% of Rubicon Technology worth $973,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Shares of NASDAQ:RBCN traded down $0.38 on Thursday, reaching $8.92. 3,394 shares of the company were exchanged, compared to its average volume of 5,792. Rubicon Technology has a 1-year low of $7.24 and a 1-year high of $9.58. The stock’s 50-day simple moving average is $8.74.

Rubicon Technology (NASDAQ:RBCN) last posted its quarterly earnings results on Tuesday, May 14th. The semiconductor company reported $0.02 earnings per share for the quarter. Rubicon Technology had a net margin of 28.11% and a negative return on equity of 2.56%. The business had revenue of $0.92 million for the quarter.

Rubicon Technology Company Profile

Rubicon Technology, Inc provides monocrystalline sapphire for applications in optical and industrial systems. It offers optical and industrial sapphire products in various shapes and sizes, including round and rectangular windows and wafers, domes, tubes, and rods for a range of end markets comprising defense and aerospace, specialty lighting, instrumentation, sensors and detectors, semiconductor process equipment, electronic substrates, medical, and laser applications.

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