Castle Brands (NYSEAMERICAN:ROX) Sees Large Volume Increase

Shares of Castle Brands Inc (NYSEAMERICAN:ROX) saw unusually-strong trading volume on Wednesday . Approximately 1,213,193 shares traded hands during mid-day trading, an increase of 199% from the previous session’s volume of 405,532 shares.The stock last traded at $0.60 and had previously closed at $0.52.

Several research analysts have weighed in on ROX shares. Barrington Research restated a “buy” rating and issued a $1.35 price target on shares of Castle Brands in a research note on Wednesday, June 19th. TheStreet upgraded Castle Brands from a “d” rating to a “c-” rating in a research note on Wednesday, June 26th. Zacks Investment Research upgraded Castle Brands from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Maxim Group restated a “hold” rating on shares of Castle Brands in a research note on Wednesday, June 19th.

Castle Brands (NYSEAMERICAN:ROX) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $22.64 million during the quarter, compared to analyst estimates of $22.87 million.

Several institutional investors and hedge funds have recently modified their holdings of ROX. BlackRock Inc. raised its holdings in shares of Castle Brands by 0.3% during the 4th quarter. BlackRock Inc. now owns 4,742,901 shares of the company’s stock worth $4,034,000 after acquiring an additional 13,072 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Castle Brands by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 854,698 shares of the company’s stock worth $726,000 after acquiring an additional 35,559 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Castle Brands during the 1st quarter worth approximately $32,000. SG Americas Securities LLC raised its holdings in shares of Castle Brands by 226.4% during the 1st quarter. SG Americas Securities LLC now owns 151,256 shares of the company’s stock worth $105,000 after acquiring an additional 104,909 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Castle Brands during the 2nd quarter worth approximately $152,000.

About Castle Brands (NYSEAMERICAN:ROX)

Castle Brands Inc, together with its subsidiaries, develops, markets, imports, and sells beverage alcohol and non-alcoholic beverage products in the United States, Canada, Europe, and Asia. The company offers premium and super premium rums, whiskey, liqueurs, vodka, tequila, wine, amaretto, and other spirits, as well as ginger beer and ready-to-drink cocktails.

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