Rubicon Technology (NASDAQ:RBCN) Downgraded by ValuEngine to “Hold”

ValuEngine downgraded shares of Rubicon Technology (NASDAQ:RBCN) from a buy rating to a hold rating in a research report sent to investors on Wednesday, ValuEngine reports.

RBCN stock traded down $0.01 on Wednesday, reaching $9.11. The company had a trading volume of 2,637 shares, compared to its average volume of 8,321. Rubicon Technology has a 1 year low of $7.24 and a 1 year high of $10.09. The company’s fifty day moving average is $9.14 and its 200 day moving average is $8.47.

A hedge fund recently raised its stake in Rubicon Technology stock. Renaissance Technologies LLC boosted its stake in Rubicon Technology, Inc. (NASDAQ:RBCN) by 12.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 117,288 shares of the semiconductor company’s stock after buying an additional 12,920 shares during the quarter. Renaissance Technologies LLC owned approximately 4.37% of Rubicon Technology worth $973,000 as of its most recent filing with the SEC. 27.56% of the stock is owned by institutional investors.

About Rubicon Technology

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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