REalloys (NASDAQ:ALOY) Shares Up 7.9% - Still a Buy?

Key Points

• REalloys shares rose 7.9% to about $7.21, although trading volume was 54% below the stock’s average daily volume.
• Analyst views are mixed: Needham maintained a Buy rating while cutting its price target to $16, whereas other firms issued Sell ratings. MarketBeat’s overall consensus is Moderate Buy with a $16 target.
• The company reported a quarterly loss of $0.59 per share on just $0.80 million in revenue, alongside deeply negative profitability metrics; institutional investors own only 3.58% of the stock.

REalloys Inc (NASDAQ:ALOY - Get Free Report)'s stock price rose 7.9% on Friday. The stock traded as high as $7.19 and last traded at $7.2080. Approximately 871,242 shares changed hands during trading, a decline of 54% from the average daily volume of 1,873,830 shares. The stock had previously closed at $6.68.

Analysts Set New Price Targets

A number of research firms have recently commented on ALOY. Needham & Company LLC cut their price objective on shares of REalloys from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Wall Street Zen cut shares of REalloys from a "hold" rating to a "sell" rating in a research report on Saturday, October 3rd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of REalloys in a report on Monday, September 14th. One equities research 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 company's stock. Based on data from MarketBeat, REalloys has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

REalloys Stock Up 6.5%

The company's fifty day simple moving average is $9.77 and its 200 day simple moving average is $10.63. The firm has a market capitalization of $493.92 million, a PE ratio of -2.25 and a beta of 1.40.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ALOY. Integrated Wealth Concepts LLC bought a new stake in shares of REalloys during the 2nd quarter valued at about $31,000. State of Wyoming purchased a new stake in REalloys in the 2nd quarter worth $47,000. Farther Finance Advisors LLC raised its position in shares of REalloys by 942.0% during the third quarter. Farther Finance Advisors LLC now owns 6,252 shares of the company's stock valued at $51,000 after buying an additional 5,652 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of REalloys in the second quarter worth $80,000. Finally, Quantbot Technologies LP bought a new stake in shares of REalloys in the second quarter worth about $132,000. 3.58% of the stock is owned by hedge funds and other institutional investors.

About REalloys

REalloys, Inc is a U.S.-based materials company focused on producing rare earth alloys used in the manufacture of permanent magnets and other advanced industrial applications. Its activities are centered on processing and converting rare earth elements into commercially useful alloy products for customers in the technology, automotive, energy, defense and industrial sectors.

The company's product focus includes neodymium-iron-boron (NdFeB) alloys, which are key inputs for high-performance permanent magnets used in electric motors, wind turbines, consumer electronics and other equipment.

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.