Robin Energy Ltd. (NASDAQ:RBNE) Sees Large Growth in Short Interest

Robin Energy Ltd. (NASDAQ:RBNE) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 294,431 shares, an increase of 1,485.9% from the October 15th total of 18,566 shares. Approximately 22.1% of the shares of the company are sold short. Based on an average daily volume of 45,972,533 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Robin Energy in a research note on Tuesday, October 27th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Robin Energy Trading Down 7.5%

Shares of NASDAQ RBNE opened at $0.12 on Wednesday. Robin Energy has a 12 month low of $0.11 and a 12 month high of $82.50. The stock has a 50 day moving average of $1.62 and a 200-day moving average of $18.50. The company has a market capitalization of $158,270.00, a P/E ratio of 1.32 and a beta of 2.35.

Shares of Robin Energy are going to reverse split before the market opens on Tuesday, November 24th. The 1-75 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, November 23rd.

Robin Energy (NASDAQ:RBNE) last posted its quarterly earnings results on Wednesday, September 23rd. The company reported $2.03 earnings per share for the quarter. Robin Energy had a return on equity of 21.48% and a net margin of 39.36%. The business had revenue of $2.60 million for the quarter.

Robin Energy Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, November 20th. Stockholders of record on Monday, November 16th will be given a $0.10 dividend.

About Robin Energy

Robin Energy Ltd. is a shipping company focused on the ownership and operation of tanker vessels. The company provides maritime transportation services for liquid bulk cargoes, including refined petroleum products and other energy-related commodities. Robin Energy’s vessels serve international trade routes, transporting cargoes between ports in major global shipping markets. Its business is influenced by demand for seaborne energy transportation, vessel utilization and prevailing conditions in the product tanker market.