Rubicon Technology, Inc. (RBCN) is one of Friday’s notable stocks in decline, down almost 15% in pre-market trade. The move comes after the company missed earnings expectations and guided to a largely flattish outlook. Although Rubicon registered a Q2 loss of ($0.39) per share, $0.03 better than estimates, it issued downside guidance for its Q3 saying it expects EPS and revs in the range of ($0.44) to ($0.39) vs. ($0.26), and $8 to 12 Million vs. $16.3 Million consensus, respectively. Following the company’s earnings report analysts at Canaccord Genuity downgraded Rubicon Tech shares to ‘Hold’ from ‘Buy’ on valuation, and lowered their price target to $8.00 from $10.00. Rubicon was also downgraded to ‘Neutral’ from ‘Overweight’ at JP Morgan (JPM).
Speaking from a valuation-measure perspective, shares of Rubicon Technology have a P/E to growth ratio of (-0.29) and a price/sales for the t-12 period of 4.13. EPS for the same period registers at (-$1.63). The company has a market cap of $196 million and a median Wall Street price target of $11.00 with a high target of $17.00.
Profitability-wise, Rubicon’s t-12 profit margin currently stands negative at (-79.77%) while operating ones are at (-82.07%). The company reported $63.16 Million in cash vs. $0 in debt in its most recent quarter. RBCN is currently trading $6.48, printing a one year negative return of about 14% and a negative year-to-date return of around 25%.
The chart below shows where the equity has traded over the last 52 weeks, with the 50-day and 200-day MAs included.
Rubicon Technology, Inc., is an electronic materials provider of monocrystalline sapphire and other crystalline products for light-emitting diode. The company was incorporated in 2001 and is headquartered in Bensenville, Illinois.