TheStreet Downgrades Rubicon Technology to Sell (RBCN)

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Rubicon Technology (NASDAQ:RBCN) was downgraded by stock analysts at TheStreet from a “hold” rating to a “sell” rating in a report issued on Thursday, Analyst Ratings.Net reports.

The analysts wrote, “Rubicon Technology (RBCN) has been downgraded by TheStreet Ratings from hold to sell. The company’s weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and feeble growth in its earnings per share.”

Rubicon Technology (NASDAQ:RBCN) traded down 0.27% during mid-day trading on Thursday, hitting $7.48. The stock had a trading volume of 197,851 shares. Rubicon Technology has a 1-year low of $6.78 and a 1-year high of $14.67. The stock has a 50-day moving average of $10.95 and a 200-day moving average of $10.76. The company’s market cap is $189.4 million.

Rubicon Technology (NASDAQ:RBCN) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.43) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.33) by $0.10. The company had revenue of $14.30 million for the quarter, compared to the consensus estimate of $12.95 million. During the same quarter last year, the company posted ($0.15) earnings per share. Rubicon Technology’s revenue was up 72.3% compared to the same quarter last year. Analysts expect that Rubicon Technology will post $-1.16 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity cut their price target on shares of Rubicon Technology from $15.00 to $14.00 in a research note on Friday, May 2nd. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Rubicon Technology from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 1st. They now have a $14.00 price target on the stock, up previously from $12.00. Finally, analysts at UBS AG raised their price target on shares of Rubicon Technology from $9.50 to $12.00 in a research note on Friday, March 28th. They now have a “neutral” rating on the stock. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $12.50.

Rubicon Technology, Inc manufactures synthetic electronic materials for opto-electronic, semiconductor fabrication, telecommunications, and optical & laser applications.

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