REalloys (NASDAQ:ALOY) Shares Up 7.1% – Time to Buy?

Shares of REalloys Inc (NASDAQ:ALOY) were up 7.1% during trading on Wednesday. The company traded as high as $7.01 and last traded at $6.65. 1,895,123 shares changed hands during trading, a decline of 1% from the average daily volume of 1,905,321 shares. The stock had previously closed at $6.21.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALOY. Weiss Ratings restated a “sell (d-)” rating on shares of REalloys in a report on Monday, September 14th. Needham & Company LLC dropped their price objective on shares of REalloys from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Finally, Wall Street Zen upgraded shares of REalloys from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

REalloys Stock Down 9.7%

The company has a market cap of $397.82 million, a price-to-earnings ratio of -1.81 and a beta of 1.43. The firm has a 50 day moving average price of $7.69 and a two-hundred day moving average price of $10.87.

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

Hedge Funds Weigh In On REalloys

Several hedge funds and other institutional investors have recently bought and sold shares of ALOY. BlackRock Inc. acquired a new stake in REalloys during the 2nd quarter worth about $61,089,000. State Street Corp bought a new stake in shares of REalloys during the 2nd quarter valued at about $39,024,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of REalloys during the 3rd quarter valued at about $32,238,000. Legacy Wealth Managment LLC ID acquired a new stake in REalloys during the second quarter worth approximately $4,987,000. Finally, Alps Advisors Inc. lifted its stake in REalloys by 76.0% in the third quarter. Alps Advisors Inc. now owns 299,032 shares of the company’s stock valued at $2,443,000 after buying an additional 129,150 shares during the period. Institutional investors and hedge funds own 3.58% of the company’s stock.

REalloys Company Profile

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.