Castle Brands (NYSEAMERICAN:ROX) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 6,422,984 shares, a decrease of 5.8% from the April 30th total of 6,815,151 shares. Based on an average daily volume of 169,266 shares, the short-interest ratio is presently 37.9 days. Currently, 7.2% of the company’s stock are sold short.
Shares of NYSEAMERICAN ROX opened at $1.24 on Friday. Castle Brands has a 1-year low of $0.98 and a 1-year high of $2.22.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its holdings in shares of Castle Brands by 4.6% during the first quarter. Millennium Management LLC now owns 1,230,000 shares of the company’s stock valued at $1,525,000 after purchasing an additional 54,400 shares during the period. Deutsche Bank AG increased its position in shares of Castle Brands by 125.6% during the fourth quarter. Deutsche Bank AG now owns 195,596 shares of the company’s stock worth $237,000 after acquiring an additional 108,907 shares in the last quarter. BlackRock Inc. increased its position in shares of Castle Brands by 1.2% during the fourth quarter. BlackRock Inc. now owns 3,968,101 shares of the company’s stock worth $4,841,000 after acquiring an additional 48,552 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Castle Brands by 196.9% during the fourth quarter. Wells Fargo & Company MN now owns 120,546 shares of the company’s stock worth $147,000 after acquiring an additional 79,948 shares in the last quarter.
Several brokerages have recently weighed in on ROX. Zacks Investment Research lowered shares of Castle Brands from a “buy” rating to a “hold” rating in a report on Thursday, April 12th. Roth Capital began coverage on shares of Castle Brands in a report on Thursday, February 1st. They set a “buy” rating and a $2.60 price objective on the stock.
About Castle Brands
Castle Brands Inc develops, markets, imports, and sells beverage alcohol and non-alcoholic beverage products in the United States and internationally. Its product categories include rum, whiskey, liqueurs, vodka, tequila, wine, and other spirits, as well as ginger beer and ready-to-drink cocktails. The company offers its products under the Goslings rum, Goslings Stormy Ginger Beer, Goslings Dark ?n Stormy, Jefferson's, Jefferson's Reserve, Jefferson's Ocean Aged at Sea, Jefferson's Wine Finish Collection, Jefferson's The Manhattan, Jefferson's Chef's Collaboration, Jefferson's Wood Experiment, Jefferson's Presidential Select, Jefferson's Straight Rye, Pallini, Clontarf, Knappogue Castle Whiskey, Brady's, Boru, Tierras, Celtic Honey, Gozio, The Arran Malt, The Robert Burns, and Machrie Moor brands through a network of wholesale distributors and state-operated agencies.
