Should You Hold Rubicon Technology (RBCN)?

Investment management company Cedar Creek Partners recently released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund increased by 13.4% net of fees and expenses. In the nine months ended 30th September 2022, the fund was up 2.4% net of fees and expenses. You can check the top 5 holdings of the fund to know its best picks in 2022.

Cedar Creek Partners discussed stocks like Rubicon Technology, Inc. (NASDAQ:RBCN) in its Q3 2022 letter. Based in Bensenville, Illinois, Rubicon Technology, Inc. (NASDAQ:RBCN) is a monocrystalline sapphire provider. On October 21, 2022, Rubicon Technology, Inc. (NASDAQ:RBCN) stock closed at $2.1100 per share. One-month return of Rubicon Technology, Inc. (NASDAQ:RBCN) was 14.57% and its shares lost 78.57% of their value over the last 52 weeks. Rubicon Technology, Inc. (NASDAQ:RBCN) has a market capitalization of $5.197 million.

Cedar Creek Partners made the following comment about Rubicon Technology, Inc. (NASDAQ:RBCN) in its Q3 2022 investor letter:

“We closed out our position in Rubicon Technology, Inc. (NASDAQ:RBCN) after the announced tender offer by Janel (JANL). We believed the shares were fairly valued and were not interested in holding the stub for three years waiting on Janel to acquire additional shares. We think Janel overpaid for the shares and should not have followed the tender with a large dividend. Rubicon is going to need funds in order to buy another company in order to take advantage of its historical net operating losses.”

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Rubicon Technology, Inc. (NASDAQ:RBCN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 2 hedge fund portfolios held Rubicon Technology, Inc. (NASDAQ:RBCN)  at the end of the second quarter which was 2 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.