REalloys (NASDAQ:ALOY) Shares Down 9.3% – Here’s What Happened

Shares of REalloys Inc (NASDAQ:ALOY) fell 9.3% during trading on Tuesday. The stock traded as low as $6.15 and last traded at $6.21. 2,007,377 shares traded hands during trading, an increase of 5% from the average daily volume of 1,904,533 shares. The stock had previously closed at $6.85.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of REalloys in a report on Monday, September 14th. Needham & Company LLC lowered their price objective on shares of REalloys from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Finally, Wall Street Zen upgraded REalloys from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.00.

REalloys Trading Down 9.3%

The stock’s 50-day moving average is $7.91 and its 200-day moving average is $10.97. The stock has a market cap of $432.65 million, a price-to-earnings ratio of -1.97 and a beta of 1.43.

REalloys (NASDAQ:ALOY) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.59) earnings per share for the quarter. REalloys had a negative return on equity of 192.93% and a negative net margin of 5,145.12%. The business had revenue of $0.80 million for the quarter.

Hedge Funds Weigh In On REalloys

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of REalloys during the second quarter worth approximately $61,089,000. State Street Corp bought a new stake in shares of REalloys in the 2nd quarter worth about $39,024,000. Legacy Wealth Managment LLC ID acquired a new stake in shares of REalloys in the 2nd quarter valued at about $4,987,000. Alps Advisors Inc. raised its stake in shares of REalloys by 76.0% in the 3rd quarter. Alps Advisors Inc. now owns 299,032 shares of the company’s stock valued at $2,443,000 after purchasing an additional 129,150 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of REalloys during the second quarter worth about $2,294,000. 3.58% of the stock is owned by institutional investors and hedge funds.

REalloys Company Profile

REalloys, Inc. is a U.S.-based materials company focused on the production of rare earth and other specialty alloys. Its products are intended for use in permanent magnets and other advanced manufacturing applications that require specialized metallic materials. The company’s activities center on processing and combining rare earth elements with other metals to produce alloy materials, including alloys used in neodymium-iron-boron permanent magnets. These materials support applications across industries such as electric vehicles, renewable energy, electronics, defense and industrial equipment.