Short Interest in REalloys Inc (NASDAQ:ALOY) Expands By 129.8%

REalloys Inc (NASDAQ:ALOY) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 7,447,763 shares, a growth of 129.8% from the June 15th total of 3,240,830 shares. Based on an average daily volume of 3,887,323 shares, the days-to-cover ratio is currently 1.9 days. Currently, 13.6% of the shares of the stock are sold short.

Institutional Trading of REalloys

A number of institutional investors have recently made changes to their positions in the stock. Pekin Hardy Strauss Inc. purchased a new position in shares of REalloys in the fourth quarter worth $81,000. Corient Private Wealth LLC purchased a new stake in REalloys during the 2nd quarter valued at $62,000. Canton Hathaway LLC bought a new stake in REalloys in the 4th quarter worth $95,000. Geode Capital Management LLC increased its position in shares of REalloys by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 26,267 shares of the company’s stock valued at $213,000 after acquiring an additional 1,422 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of REalloys in the fourth quarter valued at about $741,000. Hedge funds and other institutional investors own 3.58% of the company’s stock.

REalloys Stock Up 0.6%

NASDAQ ALOY opened at $10.84 on Thursday. The company has a 50-day simple moving average of $12.48 and a two-hundred day simple moving average of $12.00. REalloys has a 12-month low of $5.64 and a 12-month high of $26.90. The firm has a market cap of $745.60 million, a price-to-earnings ratio of -3.71 and a beta of 1.31.

REalloys (NASDAQ:ALOY) last released its earnings results on Wednesday, May 20th. The company reported ($1.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.96). REalloys had a negative net margin of 4,326.08% and a negative return on equity of 382.09%. The company had revenue of $0.71 million during the quarter, compared to the consensus estimate of $0.60 million.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ALOY shares. Weiss Ratings upgraded shares of REalloys from a “sell (e)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of REalloys in a research note on Thursday, July 2nd. Finally, Clear Str upgraded REalloys to a “strong-buy” rating in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

REalloys Company Profile

REalloys Inc operates as a rare earth metals and permanent magnet company in North America. The company produces rare earth metals, such as neodymium, praseodymium, dysprosium, terbium, samarium, gadolinium, yttrium, and scandium; and magnets, such as NdFeB Magnets, SmFe12 Magnets, and MnBi Magnets. The company was founded in 2024 and is headquartered in Euclid, Ohio.