Robin Energy (NASDAQ:RBNE) Approves Share Buyback Program

Robin Energy (NASDAQ:RBNE) declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 16th, RTT News reports. The company plans to buyback $1.00 million in shares. This buyback authorization permits the company to purchase up to 8.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Robin Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th.

Robin Energy Price Performance

Shares of NASDAQ RBNE traded up $0.08 during midday trading on Wednesday, hitting $0.89. 2,768,322 shares of the company’s stock traded hands, compared to its average volume of 211,647. Robin Energy has a 1 year low of $0.67 and a 1 year high of $24.65. The stock has a market capitalization of $12.53 million and a PE ratio of 22.33. The company has a fifty day moving average price of $1.02.

Robin Energy (NASDAQ:RBNE) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.01 earnings per share (EPS) for the quarter.

Robin Energy Company Profile

Robin Energy Ltd. operates as a holding company that provides tanker vessel services. The company was founded by Petros Panagiotidis on September 24, 2024 and is headquartered in Limassol, Cyrus.