Rubicon Technology Inc. (RBCN) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the technology sector during morning trading on September 22. At the lunch break, shares of RBCN have risen 6.76% to $0.63 after closing the day prior at $0.59. In the first two and a half hours of trading, the stock has gone as high as $0.63 and as low as $0.61. Today’s rise has come with about 50,420 shares changing hands, compared to an average 30-day volume of 76,594 for Rubicon Technology Inc.. The price is currently below the 30-day volume weighted average price of $0.61 for RBCN.
The share appreciation gives the company a market capitalization of $15.83 million based upon 26.83 million shares outstanding. It also means that RBCN has a price-to-book ratio of 0.16:1.
In the past 52 weeks, shares of RBCN have traded as low as $0.51 and as high as $1.779. Technical traders will take note that at $0.63, shares of RBCN are trading below their 200-day MA at $0.79 and below their 50-day MA at $0.64. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is RBCN?
Rubicon Technology Inc is an electronic materials provider that develops, manufactures and sells monocrystalline sapphire and other crystalline products for LEDs, RFICs, blue laser diodes, optoelectronics and other optical applications. The company’s 244 employees are led by CEO William F. Weissman from the corporate headquarters at 900 East Green Street in Bensenville, IL.
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