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

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ALOY shares. Needham & Company LLC cut their target price on REalloys from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Wall Street Zen upgraded REalloys from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of REalloys in a research note on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

REalloys Stock Down 5.0%

The firm has a market cap of $440.30 million, a price-to-earnings ratio of -2.00 and a beta of 1.43. The company has a 50-day moving average price of $7.76 and a 200 day moving average price of $10.90.

REalloys (NASDAQ:ALOY) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.59) earnings per share (EPS) 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 during the quarter.

Institutional Trading of REalloys

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in REalloys during the second quarter valued at approximately $61,089,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in REalloys in the 3rd quarter worth approximately $32,238,000. State Street Corp purchased a new stake in REalloys in the 2nd quarter worth approximately $39,024,000. Legacy Wealth Managment LLC ID acquired a new stake in shares of REalloys during the 2nd quarter valued at $4,987,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of REalloys during the 2nd quarter valued at $2,294,000. 3.58% of the stock is owned by hedge funds and other 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.