Castle Brands Inc (NYSEAMERICAN:ROX) shares saw strong trading volume on Wednesday . 1,213,193 shares traded hands during trading, an increase of 199% from the previous session’s volume of 405,532 shares.The stock last traded at $0.60 and had previously closed at $0.52.

A number of research firms have weighed in on ROX. Maxim Group reissued a “hold” rating on shares of Castle Brands in a research report on Wednesday, June 19th. Barrington Research restated a “buy” rating and set a $1.35 price target on shares of Castle Brands in a report on Wednesday, June 19th. Zacks Investment Research upgraded Castle Brands from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, TheStreet upgraded Castle Brands from a “d” rating to a “c-” rating in a report on Wednesday, June 26th.

Castle Brands (NYSEAMERICAN:ROX) last announced its earnings results on Friday, August 9th. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $22.64 million for the quarter, compared to analyst estimates of $22.87 million.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Castle Brands by 0.3% during the fourth quarter. BlackRock Inc. now owns 4,742,901 shares of the company’s stock valued at $4,034,000 after acquiring an additional 13,072 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Castle Brands by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 854,698 shares of the company’s stock worth $726,000 after purchasing an additional 35,559 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Castle Brands during the 1st quarter worth approximately $32,000. SG Americas Securities LLC increased its stake in shares of Castle Brands by 226.4% during the 1st quarter. SG Americas Securities LLC now owns 151,256 shares of the company’s stock worth $105,000 after purchasing an additional 104,909 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Castle Brands during the 2nd quarter worth approximately $152,000.

About Castle Brands (NYSEAMERICAN:ROX)

Castle Brands Inc, together with its subsidiaries, develops, markets, imports, and sells beverage alcohol and non-alcoholic beverage products in the United States, Canada, Europe, and Asia. The company offers premium and super premium rums, whiskey, liqueurs, vodka, tequila, wine, amaretto, and other spirits, as well as ginger beer and ready-to-drink cocktails.

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