Rubico Inc. (NASDAQ:RUBI) Sees Large Increase in Short Interest

Rubico Inc. (NASDAQ:RUBI) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 914,104 shares, an increase of 1,969.2% from the May 31st total of 44,177 shares. Based on an average daily trading volume, of 46,511,552 shares, the short-interest ratio is presently 0.0 days. Approximately 38.6% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings initiated coverage on shares of Rubico in a report on Monday, June 15th. They issued a “sell (d-)” rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Rubico Trading Down 21.1%

Shares of NASDAQ:RUBI traded down $0.06 on Thursday, hitting $0.24. 3,662,784 shares of the company were exchanged, compared to its average volume of 5,801,496. Rubico has a 1-year low of $0.21 and a 1-year high of $15,654.60.

Rubico’s stock is going to reverse split on the morning of Friday, June 26th. The 1-25 reverse split was announced on Tuesday, June 23rd. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, June 25th.

Insider Activity

In related news, major shareholder Financial Lp Hrt sold 551,020 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $0.95, for a total transaction of $523,469.00. Following the completion of the transaction, the insider owned 384,941 shares in the company, valued at $365,693.95. The trade was a 58.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.70% of the stock is currently owned by insiders.

About Rubico

Rubico Inc is a provider of shipping transportation services specializing in the ownership of vessels. Rubico Inc is based in ATHENS, Greece.