Castle Brands (ROX) Shares Down 6.6%

Castle Brands Inc (NYSEAMERICAN:ROX)’s share price was down 6.6% during trading on Wednesday . The company traded as low as $1.26 and last traded at $1.28. Approximately 780,800 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 1,064,281 shares. The stock had previously closed at $1.37.

A number of equities analysts have commented on ROX shares. Zacks Investment Research lowered shares of Castle Brands from a “hold” rating to a “sell” rating in a report on Friday, October 6th. Barrington Research boosted their price objective on shares of Castle Brands from $1.80 to $2.00 and gave the stock an “outperform” rating in a report on Tuesday, October 3rd. Finally, TheStreet raised shares of Castle Brands from a “d+” rating to a “c-” rating in a research report on Tuesday, November 28th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROX. Bank of New York Mellon Corp increased its position in shares of Castle Brands by 28.4% in the 1st quarter. Bank of New York Mellon Corp now owns 67,856 shares of the company’s stock worth $106,000 after purchasing an additional 15,007 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Castle Brands by 245.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 390,787 shares of the company’s stock worth $606,000 after purchasing an additional 277,822 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in shares of Castle Brands in the 2nd quarter worth about $256,000. Rhumbline Advisers bought a new stake in shares of Castle Brands in the 2nd quarter worth about $141,000. Finally, Teachers Advisors LLC bought a new stake in shares of Castle Brands in the 2nd quarter worth about $266,000.

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Castle Brands Company Profile

Castle Brands Inc develops and markets premium and super premium brands in the beverage alcohol categories. The Company is engaged in the sale of premium beverage alcohol. Its beverage alcohol categories include rum, whiskey, liqueurs, vodka and tequila. Its brands include Gosling’s rum, Gosling’s Stormy Ginger Beer, Gosling’s Dark ‘n Stormy ready-to-drink cocktail, Jefferson’s bourbon, Jefferson’s Reserve, Jefferson’s Ocean Aged at Sea, Jefferson’s Wine Finish Collection, Jefferson’s The Manhattan: Barrel Finished Cocktail, Jefferson’s Chef’s Collaboration, Jefferson’s Wood Experiment, Jefferson’s Presidential Select, Jefferson’s Rye whiskey, Pallini liqueurs, Clontarf Irish whiskey, Knappogue Castle Whiskey, Brady’s Irish Cream, Boru vodka, Tierras tequila, Celtic Honey liqueur and Gozio amaretto.

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