Rayonier Advanced Materials Inc. (NYSE:RYAM) Short Interest Down 16.2% in January

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

Wall Street Analyst Weigh In

RYAM has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Thursday, January 22nd. Zacks Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rayonier Advanced Materials has an average rating of “Hold” and an average price target of $6.00.

Rayonier Advanced Materials Price Performance

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

Hedge Funds Weigh In On Rayonier Advanced Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nantahala Capital Management LLC raised its position in shares of Rayonier Advanced Materials by 252.6% during the 4th quarter. Nantahala Capital Management LLC now owns 1,800,000 shares of the basic materials company’s stock valued at $10,602,000 after buying an additional 1,289,490 shares in the last quarter. Millennium Management LLC raised its position in Rayonier Advanced Materials by 177.3% during the third quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company’s stock valued at $9,817,000 after purchasing an additional 869,486 shares in the last quarter. UBS Group AG lifted its stake in Rayonier Advanced Materials by 156.9% during the third quarter. UBS Group AG now owns 783,465 shares of the basic materials company’s stock worth $5,657,000 after purchasing an additional 478,500 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Rayonier Advanced Materials by 62.8% during the fourth quarter. JPMorgan Chase & Co. now owns 968,757 shares of the basic materials company’s stock worth $5,706,000 after purchasing an additional 373,522 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Rayonier Advanced Materials by 26.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,687,949 shares of the basic materials company’s stock valued at $9,942,000 after acquiring an additional 348,589 shares during the last quarter. Hedge funds and other 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.