Robin Energy (NASDAQ:RBNE) Shares Down 0.8% – Here’s Why

Shares of Robin Energy Ltd. (NASDAQ:RBNE) fell 0.8% on Tuesday. The company traded as low as $2.34 and last traded at $2.34. 5,004 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 29,918 shares. The stock had previously closed at $2.36.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Robin Energy in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Robin Energy Stock Performance

The stock’s fifty day moving average price is $2.70 and its 200-day moving average price is $13.32. The company has a market capitalization of $3.11 million, a P/E ratio of 25.74 and a beta of 1.56.

Institutional Trading of Robin Energy

A hedge fund recently bought a new position in Robin Energy stock. Empery Asset Management LP acquired a new stake in Robin Energy Ltd. (NASDAQ:RBNE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 301,072 shares of the company’s stock, valued at approximately $882,000. Robin Energy comprises about 0.8% of Empery Asset Management LP’s holdings, making the stock its 14th largest position. Empery Asset Management LP owned 10.71% of Robin Energy at the end of the most recent quarter.

About Robin Energy

Robin Energy Ltd. (NASDAQ: RBNE) is a maritime transportation company focused on the ownership and operation of tanker vessels. The company provides seaborne transportation services for energy products, including crude oil and refined petroleum products.

Through its tanker fleet, Robin Energy serves the international energy and shipping markets, transporting cargoes between ports in various global trading regions. Its business is influenced by demand for oil transportation, fleet utilization, vessel operating costs and conditions in the tanker charter market.

Robin Energy is headquartered in Greece and operates as an international shipping company.