REalloys (NASDAQ:ALOY) Shares Down 9.7% – Here’s Why

REalloys Inc (NASDAQ:ALOY) shares were down 9.7% on Friday. The stock traded as low as $5.45 and last traded at $5.71. 2,617,451 shares changed hands during mid-day trading, an increase of 37% from the average session volume of 1,906,492 shares. The stock had previously closed at $6.32.

Analyst Ratings Changes

ALOY has been the topic of several research analyst reports. Needham & Company LLC lowered their price objective on shares of REalloys from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of REalloys in a research note on Monday, September 14th. Finally, Wall Street Zen raised shares of REalloys from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.00.

REalloys Stock Down 10.0%

The firm has a market capitalization of $396.42 million, a price-to-earnings ratio of -1.80 and a beta of 1.43. The business has a 50-day moving average of $7.69 and a two-hundred day moving average of $10.87.

REalloys (NASDAQ:ALOY) last posted its quarterly earnings results on Friday, November 13th. The company reported ($0.44) EPS for the quarter. REalloys had a negative net margin of 5,145.12% and a negative return on equity of 192.93%. The firm had revenue of $0.41 million during the quarter.

Institutional Trading of REalloys

A number of institutional investors and hedge funds have recently modified their holdings of ALOY. BlackRock Inc. acquired a new position in shares of REalloys in the second quarter valued at $61,089,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in REalloys in the third quarter worth $32,238,000. State Street Corp boosted its stake in REalloys by 44.5% during the third quarter. State Street Corp now owns 3,901,240 shares of the company’s stock worth $31,873,000 after buying an additional 1,200,620 shares in the last quarter. Legacy Wealth Managment LLC ID acquired a new stake in REalloys during the second quarter worth $4,987,000. Finally, Alps Advisors Inc. boosted its stake in REalloys by 76.0% during the third quarter. Alps Advisors Inc. now owns 299,032 shares of the company’s stock worth $2,443,000 after buying an additional 129,150 shares in the last quarter. 3.58% of the stock is currently owned by institutional investors.

About REalloys

REalloys Inc. is a rare earth materials company focused on producing rare earth metals and alloys used in permanent magnets and other advanced applications. Its products support industries including automotive, clean energy, electronics and defense. The company’s activities include processing rare earth materials into metal and alloy products for manufacturers. REalloys operates through Less Common Metals, a UK-based rare earth alloy producer, and is working to expand rare earth processing and production capacity in North America.