Robin Energy (NASDAQ:RBNE) Stock Price Down 2.2% – Here’s What Happened

Shares of Robin Energy Ltd. (NASDAQ:RBNE) fell 2.2% on Tuesday . The stock traded as low as $1.76 and last traded at $1.79. 454,616 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 4,984,139 shares. The stock had previously closed at $1.83.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RBNE shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Robin Energy in a research report on Friday. Wall Street Zen lowered shares of Robin Energy from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Robin Energy currently has an average rating of “Sell”.

Robin Energy Stock Performance

The company has a 50 day simple moving average of $2.77 and a 200-day simple moving average of $4.01.

Robin Energy declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 16th that permits the company to buyback $1.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 8.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Robin Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC purchased a new position in shares of Robin Energy during the third quarter worth approximately $585,000. Empery Asset Management LP purchased a new stake in shares of Robin Energy in the 4th quarter valued at $882,000. Connective Capital Management LLC purchased a new stake in shares of Robin Energy in the 3rd quarter valued at $78,000. Two Sigma Investments LP bought a new position in shares of Robin Energy during the 3rd quarter valued at $51,000. Finally, Virtu Financial LLC purchased a new position in Robin Energy in the 3rd quarter worth $28,000.

Robin Energy Company Profile

Robin Energy Ltd. operates as a holding company that provides tanker vessel services. The company was founded by Petros Panagiotidis on September 24, 2024 and is headquartered in Limassol, Cyrus.