Castle Brands Inc (NYSEAMERICAN:ROX)’s share price fell 6.6% during mid-day trading on Wednesday . The stock traded as low as $1.26 and last traded at $1.28. 780,800 shares traded hands during trading, a decline of 27% from the average session volume of 1,064,281 shares. The stock had previously closed at $1.37.

Several research firms have recently issued reports on ROX. Zacks Investment Research lowered shares of Castle Brands from a “hold” rating to a “sell” rating in a report on Friday, October 6th. TheStreet upgraded shares of Castle Brands from a “d+” rating to a “c-” rating in a report on Tuesday, November 28th. Finally, Barrington Research lifted their target price on shares of Castle Brands from $1.80 to $2.00 and gave the company an “outperform” rating in a report on Tuesday, October 3rd.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in Castle Brands by 28.4% in the 1st quarter. Bank of New York Mellon Corp now owns 67,856 shares of the company’s stock worth $106,000 after acquiring an additional 15,007 shares during the last quarter. Rhumbline Advisers bought a new stake in Castle Brands in the 2nd quarter worth approximately $141,000. Schwab Charles Investment Management Inc. bought a new stake in Castle Brands in the 2nd quarter worth approximately $256,000. California State Teachers Retirement System bought a new stake in Castle Brands in the 2nd quarter worth approximately $265,000. Finally, Teachers Advisors LLC bought a new stake in Castle Brands in the 2nd quarter worth approximately $266,000.

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About Castle Brands

Castle Brands Inc develops and markets premium and super premium brands in the beverage alcohol categories. The Company is engaged in the sale of premium beverage alcohol. Its beverage alcohol categories include rum, whiskey, liqueurs, vodka and tequila. Its brands include Gosling’s rum, Gosling’s Stormy Ginger Beer, Gosling’s Dark ‘n Stormy ready-to-drink cocktail, Jefferson’s bourbon, Jefferson’s Reserve, Jefferson’s Ocean Aged at Sea, Jefferson’s Wine Finish Collection, Jefferson’s The Manhattan: Barrel Finished Cocktail, Jefferson’s Chef’s Collaboration, Jefferson’s Wood Experiment, Jefferson’s Presidential Select, Jefferson’s Rye whiskey, Pallini liqueurs, Clontarf Irish whiskey, Knappogue Castle Whiskey, Brady’s Irish Cream, Boru vodka, Tierras tequila, Celtic Honey liqueur and Gozio amaretto.

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