Rubicon Technology, Inc. (NASDAQ:RBCN) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 48,400 shares, a drop of 34.2% from the July 31st total of 73,600 shares. Based on an average trading volume of 3,800 shares, the short-interest ratio is currently 12.7 days. Approximately 1.9% of the company’s stock are sold short.
NASDAQ:RBCN traded down $0.39 during trading hours on Friday, hitting $8.88. 972 shares of the company traded hands, compared to its average volume of 4,715. The firm’s 50-day simple moving average is $9.14 and its 200-day simple moving average is $8.36. Rubicon Technology has a one year low of $7.24 and a one year high of $9.87.
An institutional investor recently raised its position in Rubicon Technology stock. Renaissance Technologies LLC raised its stake in shares of Rubicon Technology, Inc. (NASDAQ:RBCN) by 12.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,288 shares of the semiconductor company’s stock after acquiring an additional 12,920 shares during the period. Renaissance Technologies LLC owned about 4.37% of Rubicon Technology worth $973,000 as of its most recent SEC filing. 23.94% of the stock is currently owned by institutional investors and hedge funds.
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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