Castle Brands Inc. (NYSE:ROX) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 6,130,738 shares, a growth of 2.6% from the October 13th total of 5,977,841 shares. Currently, 6.9% of the shares of the stock are sold short. Based on an average daily volume of 492,064 shares, the days-to-cover ratio is currently 12.5 days.

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Castle Brands by 28.4% during the first quarter. Bank of New York Mellon Corp now owns 67,856 shares of the company’s stock worth $106,000 after acquiring an additional 15,007 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of Castle Brands during the second quarter worth approximately $141,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Castle Brands during the second quarter worth approximately $256,000. California State Teachers Retirement System purchased a new position in shares of Castle Brands during the second quarter worth approximately $265,000. Finally, Teachers Advisors LLC purchased a new position in shares of Castle Brands during the second quarter worth approximately $266,000.

A number of equities research analysts recently weighed in on ROX shares. Barrington Research raised their target price on shares of Castle Brands from $1.80 to $2.00 and gave the company an “outperform” rating in a research note on Tuesday, October 3rd. Zacks Investment Research downgraded shares of Castle Brands from a “hold” rating to a “sell” rating in a research note on Friday, October 6th.

Castle Brands (ROX) opened at $1.11 on Tuesday. Castle Brands has a one year low of $0.65 and a one year high of $2.22.

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About Castle Brands

Castle Brands Inc develops and markets premium and super premium brands in the beverage alcohol categories. The Company is engaged in the sale of premium beverage alcohol. Its beverage alcohol categories include rum, whiskey, liqueurs, vodka and tequila. Its brands include Gosling’s rum, Gosling’s Stormy Ginger Beer, Gosling’s Dark ‘n Stormy ready-to-drink cocktail, Jefferson’s bourbon, Jefferson’s Reserve, Jefferson’s Ocean Aged at Sea, Jefferson’s Wine Finish Collection, Jefferson’s The Manhattan: Barrel Finished Cocktail, Jefferson’s Chef’s Collaboration, Jefferson’s Wood Experiment, Jefferson’s Presidential Select, Jefferson’s Rye whiskey, Pallini liqueurs, Clontarf Irish whiskey, Knappogue Castle Whiskey, Brady’s Irish Cream, Boru vodka, Tierras tequila, Celtic Honey liqueur and Gozio amaretto.

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