Short Interest in Castle Brands Inc (ROX) Grows By 20.5%

Castle Brands Inc (NYSE:ROX) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 1,168,638 shares, an increase of 20.5% from the June 30th total of 969,907 shares. Based on an average trading volume of 280,360 shares, the days-to-cover ratio is presently 4.2 days. Approximately 1.6% of the company’s shares are sold short.

Separately, Zacks Investment Research lowered shares of Castle Brands from a “hold” rating to a “strong sell” rating in a report on Saturday, June 25th.

Shares of Castle Brands (NYSE:ROX) traded down 2.6973% during trading on Tuesday, hitting $0.8802. 105,577 shares of the stock traded hands. Castle Brands has a 52-week low of $0.70 and a 52-week high of $1.47. The firm’s market cap is $141.29 million. The company’s 50 day moving average is $0.83 and its 200 day moving average is $0.89.

In related news, CEO Richard Lampen acquired 120,000 shares of the firm’s stock in a transaction dated Monday, June 27th. The shares were purchased at an average cost of $0.71 per share, for a total transaction of $85,200.00. Following the acquisition, the chief executive officer now owns 1,417,520 shares in the company, valued at approximately $1,006,439.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Castle Brands Inc develops and markets premium and super premium brands in the beverage alcohol categories. The Company’s beverage alcohol categories include rum, whiskey, liqueurs, vodka and tequila. It distributes its products in the United States and the District of Columbia, and in primary international markets, including Ireland, Great Britain, Northern Ireland, Germany, Canada, Israel, Bulgaria, France, Finland, Norway, Sweden, Denmark, China and in other countries.