Rayonier Advanced Materials Inc. (NYSE:RYAM) Short Interest Up 28.7% in March

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 2,440,100 shares, a growth of 28.7% from the February 26th total of 1,896,406 shares. Based on an average trading volume of 1,491,321 shares, the short-interest ratio is presently 1.6 days. Currently, 3.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

RYAM has been the subject of several analyst reports. Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

Rayonier Advanced Materials Stock Performance

Rayonier Advanced Materials stock opened at $11.08 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.58 and a debt-to-equity ratio of 2.39. The stock has a market cap of $742.74 million, a PE ratio of -1.75 and a beta of 2.14. Rayonier Advanced Materials has a 12-month low of $3.35 and a 12-month high of $11.85. The business’s 50-day moving average price is $9.38 and its two-hundred day moving average price is $7.64.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, March 3rd. The basic materials company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.19). Rayonier Advanced Materials had a negative return on equity of 19.70% and a negative net margin of 28.65%.The company had revenue of $417.55 million during the quarter, compared to the consensus estimate of $364.07 million. As a group, analysts expect that Rayonier Advanced Materials will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its stake in shares of Rayonier Advanced Materials by 754.4% during the second quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock worth $31,000 after buying an additional 7,031 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Rayonier Advanced Materials during the 2nd quarter valued at $52,000. Graham Capital Management L.P. acquired a new stake in shares of Rayonier Advanced Materials during the 4th quarter valued at $76,000. Tactive Advisors LLC grew its position in Rayonier Advanced Materials by 18.0% during the 4th quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 2,032 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Rayonier Advanced Materials by 46.7% in the 3rd quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 3,636 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.