Legacy Wealth Managment LLC ID Makes New $4.99 Million Investment in REalloys Inc $ALOY

Key Points

• Legacy Wealth Management LLC ID bought 345,145 REalloys shares worth approximately $4.99 million, representing 2.2% of its portfolio and about 0.5% of REalloys’ outstanding stock.
• Several institutional investors, including BlackRock with a roughly $61.1 million new position, also purchased shares during the second quarter; institutional ownership now stands at 3.58%.
• REalloys has a “Moderate Buy” consensus rating and a $16 price target, but shares opened at $10.06 and the company reported a $0.59 quarterly loss per share on just $0.80 million in revenue.

Legacy Wealth Managment LLC ID purchased a new stake in REalloys Inc (NASDAQ:ALOY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 345,145 shares of the company's stock, valued at approximately $4,987,000. REalloys comprises approximately 2.2% of Legacy Wealth Managment LLC ID's investment portfolio, making the stock its 10th largest holding. Legacy Wealth Managment LLC ID owned approximately 0.50% of REalloys as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in REalloys in the second quarter valued at about $61,089,000. Bank of New York Mellon Corp bought a new position in REalloys in the second quarter valued at about $2,294,000. Franklin Resources Inc. acquired a new position in REalloys during the fourth quarter worth about $741,000. Dayah Capital LLC acquired a new position in REalloys during the second quarter worth about $1,288,000. Finally, Deutsche Bank AG bought a new position in shares of REalloys in the second quarter worth about $818,000. Institutional investors and hedge funds own 3.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of REalloys from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Weiss Ratings upgraded shares of REalloys from a "sell (e)" rating to a "sell (d-)" rating in a research report on Thursday, June 18th. Finally, Needham & Company LLC cut their target price on shares of REalloys from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. 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.com, REalloys currently has an average rating of "Moderate Buy" and a consensus price target of $16.00.

REalloys Trading Down 1.5%

Shares of ALOY stock opened at $10.06 on Friday. The business's 50-day moving average price is $11.19 and its 200-day moving average price is $11.96. REalloys Inc has a 12 month low of $5.92 and a 12 month high of $26.90. The firm has a market capitalization of $694.04 million, a price-to-earnings ratio of -3.18 and a beta of 1.37.

REalloys (NASDAQ:ALOY - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter. The firm 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%.

REalloys 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source