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

Rubico Inc. (NASDAQ:RUBI) was the target of a large increase in short interest in 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. Approximately 38.6% of the shares of the company are short sold. Based on an average daily trading volume, of 46,511,552 shares, the days-to-cover ratio is currently 0.0 days.

Rubico Stock Performance

Shares of Rubico stock traded down $0.06 on Thursday, reaching $0.24. The company’s stock had a trading volume of 3,662,784 shares, compared to its average volume of 5,801,496. Rubico has a 52-week low of $0.21 and a 52-week high of $15,654.60.

Shares of Rubico are scheduled to reverse split before the market opens on 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 closing bell on Thursday, June 25th.

Insider Activity at Rubico

In other news, major shareholder Financial Lp Hrt sold 551,020 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $0.95, for a total value of $523,469.00. Following the sale, the insider owned 384,941 shares in the company, valued at $365,693.95. This represents a 58.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings started coverage on Rubico in a research report on Monday, June 15th. They set a “sell (d-)” rating for the company. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

About Rubico

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