REalloys (NASDAQ:ALOY) Shares Gap Up – Still a Buy?

REalloys Inc (NASDAQ:ALOY) shares gapped up prior to trading on Monday . The stock had previously closed at $8.26, but opened at $8.80. REalloys shares last traded at $8.8290, with a volume of 872,832 shares.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALOY. Needham & Company LLC reduced their price target 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. Weiss Ratings reissued 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 research note on Saturday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

REalloys Stock Down 3.2%

The company’s fifty day moving average price is $10.14 and its two-hundred day moving average price is $11.34. The firm has a market cap of $626.86 million, a PE ratio of -2.86 and a beta of 1.37.

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 return on equity of 192.93% and a negative net margin of 5,145.12%.The company had revenue of $0.80 million for the quarter.

Hedge Funds Weigh In On REalloys

Large investors have recently bought and sold shares of the stock. State Street Corp purchased a new position in shares of REalloys during the 2nd quarter valued at approximately $39,024,000. The Manufacturers Life Insurance Company acquired a new position in shares of REalloys in the 2nd quarter valued at about $216,000. Sequoia Financial Advisors LLC acquired a new position in REalloys in the second quarter valued at approximately $144,000. Engineers Gate Manager LP bought a new position in REalloys during the 2nd quarter worth $732,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of REalloys during the second quarter worth about $31,000. Hedge funds and other institutional investors own 3.58% of the company’s stock.

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.