REalloys Inc (NASDAQ:ALOY) Short Interest Up 59.4% in July

REalloys Inc (NASDAQ:ALOY) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 9,560,121 shares, a growth of 59.4% from the July 15th total of 5,998,374 shares. Currently, 17.4% of the company’s shares are sold short. Based on an average trading volume of 3,097,997 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Trading of REalloys

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new stake in shares of REalloys in the 2nd quarter worth approximately $479,000. Dayah Capital LLC purchased a new position in REalloys during the second quarter valued at approximately $1,288,000. Legal & General Group Plc purchased a new position in REalloys during the second quarter valued at approximately $80,000. The Manufacturers Life Insurance Company purchased a new position in REalloys during the second quarter valued at approximately $216,000. Finally, Quantbot Technologies LP bought a new position in REalloys in the second quarter worth approximately $132,000. 3.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALOY has been the topic of a number of recent analyst reports. Needham & Company LLC reduced their target price on REalloys from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Wall Street Zen raised shares of REalloys from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of REalloys from a “sell (e)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

REalloys Stock Down 2.5%

ALOY opened at $13.50 on Wednesday. The stock’s fifty day moving average is $12.43 and its two-hundred day moving average is $11.97. The company has a market capitalization of $928.53 million, a P/E ratio of -4.27 and a beta of 1.36. REalloys has a 52 week low of $5.64 and a 52 week high of $26.90.

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

About REalloys

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.