Rayonier Advanced Materials Inc. (NYSE:RYAM) Sees Significant Decrease in Short Interest

Rayonier Advanced Materials Inc. (NYSE:RYAM) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 791,700 shares, a decrease of 28.0% from the August 15th total of 1,100,000 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average trading volume of 524,600 shares, the days-to-cover ratio is presently 1.5 days.

Rayonier Advanced Materials Trading Down 0.1 %

NYSE:RYAM traded down $0.01 during trading hours on Monday, hitting $7.74. The company had a trading volume of 265,668 shares, compared to its average volume of 523,924. Rayonier Advanced Materials has a 1 year low of $2.66 and a 1 year high of $7.99. The company has a 50-day moving average of $6.78 and a 200 day moving average of $5.46. The company has a market cap of $509.99 million, a P/E ratio of -4.81 and a beta of 3.00. The company has a current ratio of 1.69, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.26. The company had revenue of $419.00 million for the quarter, compared to analyst estimates of $407.10 million. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. During the same quarter last year, the company earned ($0.25) EPS. Sell-side analysts expect that Rayonier Advanced Materials will post -0.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RYAM shares. StockNews.com raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada raised their price target on Rayonier Advanced Materials from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th.

Institutional Trading of Rayonier Advanced Materials

Hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp purchased a new stake in shares of Rayonier Advanced Materials in the second quarter valued at approximately $66,000. Quarry LP purchased a new stake in shares of Rayonier Advanced Materials in the second quarter valued at approximately $29,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Rayonier Advanced Materials in the second quarter valued at approximately $632,000. Aristeia Capital L.L.C. boosted its stake in shares of Rayonier Advanced Materials by 338.2% in the second quarter. Aristeia Capital L.L.C. now owns 123,313 shares of the basic materials company’s stock valued at $671,000 after buying an additional 95,173 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Rayonier Advanced Materials in the second quarter valued at approximately $178,000. 68.64% of the stock is owned by institutional investors and hedge funds.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company's products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.