Short Interest in Rayonier Advanced Materials Inc. (NYSE:RYAM) Decreases By 16.2%

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 2,049,083 shares, a drop of 16.2% from the January 15th total of 2,444,293 shares. Approximately 3.2% of the company’s stock are short sold. Based on an average daily volume of 836,348 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily volume of 836,348 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.2% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Zacks Research raised Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Institutional Trading of Rayonier Advanced Materials

Several hedge funds have recently made changes to their positions in RYAM. Barclays PLC grew its stake in shares of Rayonier Advanced Materials by 4.5% during the 4th quarter. Barclays PLC now owns 100,484 shares of the basic materials company’s stock worth $592,000 after acquiring an additional 4,348 shares during the period. Nantahala Capital Management LLC increased its stake in shares of Rayonier Advanced Materials by 252.6% in the fourth quarter. Nantahala Capital Management LLC now owns 1,800,000 shares of the basic materials company’s stock worth $10,602,000 after purchasing an additional 1,289,490 shares in the last quarter. Aip LLC bought a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at approximately $1,508,000. Zuckerman Investment Group LLC purchased a new stake in shares of Rayonier Advanced Materials during the 4th quarter valued at approximately $201,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Rayonier Advanced Materials by 26.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,687,949 shares of the basic materials company’s stock worth $9,942,000 after buying an additional 348,589 shares during the period. 68.64% of the stock is currently owned by institutional investors.

Rayonier Advanced Materials Stock Performance

Shares of RYAM stock opened at $8.23 on Monday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.89 and a current ratio of 1.57. The firm has a market cap of $551.49 million, a price-to-earnings ratio of -1.32 and a beta of 2.22. Rayonier Advanced Materials has a 52 week low of $3.35 and a 52 week high of $8.95. The firm’s 50-day simple moving average is $7.18 and its two-hundred day simple moving average is $6.54.

About Rayonier Advanced Materials

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.