2,700,620 Shares in REalloys Inc $ALOY Bought by State Street Corp

Key Points

• State Street Corp acquired 2.7 million REalloys shares worth approximately $39 million, representing about 3.89% of the company. Other institutional investors also established new positions, though total institutional ownership remains 3.58%.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and a $16 price target. Needham lowered its target from $19 to $16, while ratings range from Strong Buy to Sell.
• REalloys shares opened at $8.52, well below the consensus target, but the company reported weak quarterly results: a $0.59 per-share loss, $0.80 million in revenue, and deeply negative profitability metrics.

State Street Corp bought a new position in REalloys Inc (NASDAQ:ALOY - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 2,700,620 shares of the company's stock, valued at approximately $39,024,000. State Street Corp owned approximately 3.89% of REalloys as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ALOY. The Manufacturers Life Insurance Company acquired a new position in shares of REalloys during the second quarter valued at about $216,000. Sequoia Financial Advisors LLC bought a new position in REalloys in the 2nd quarter valued at about $144,000. Engineers Gate Manager LP bought a new position in REalloys in the 2nd quarter valued at about $732,000. Integrated Wealth Concepts LLC acquired a new position in REalloys during the 2nd quarter valued at about $31,000. Finally, Legacy Wealth Managment LLC ID acquired a new position in REalloys during the 2nd quarter valued at about $4,987,000. Institutional investors and hedge funds own 3.58% of the company's stock.

Wall Street Analysts Forecast Growth

ALOY has been the subject of several analyst reports. Needham & Company LLC lowered their price objective on REalloys from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of REalloys in a research report on Monday, September 14th. Finally, Wall Street Zen upgraded REalloys from a "sell" rating to a "hold" rating in a report on Saturday, September 5th. 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 stock. Based on data from MarketBeat, REalloys has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

REalloys Stock Down 1.7%

REalloys stock opened at $8.52 on Friday. REalloys Inc has a 52 week low of $5.92 and a 52 week high of $26.90. The company's 50 day moving average price is $10.07 and its two-hundred day moving average price is $11.19. The stock has a market cap of $591.46 million, a P/E ratio of -2.70 and a beta of 1.37.

REalloys (NASDAQ:ALOY - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter. The business had revenue of $0.80 million during the quarter. REalloys had a negative net margin of 5,145.12% and a negative return on equity of 192.93%.

About REalloys

REalloys, Inc NASDAQ: ALOY is a materials company focused on the production of rare-earth alloys and related advanced materials. Its products are intended to serve as feedstock for high-performance permanent magnets and other applications that require specialized magnetic and metallurgical properties.

The company's activities are associated with the growing demand for rare-earth materials used in electric vehicles, renewable-energy equipment, consumer electronics, industrial systems, aerospace and defense technologies.

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