Haynes International (NASDAQ:HAYN) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Haynes International, Inc. (NASDAQ:HAYN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $59.84 and traded as high as $61.01. Haynes International shares last traded at $60.99, with a volume of 1,035,700 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Haynes International in a report on Saturday. They issued a “hold” rating for the company.

Haynes International Trading Up 0.0 %

The company has a market cap of $779.45 million, a P/E ratio of 20.96, a PEG ratio of 0.85 and a beta of 1.39. The firm’s 50 day moving average is $60.78 and its two-hundred day moving average is $59.84. The company has a quick ratio of 1.89, a current ratio of 7.74 and a debt-to-equity ratio of 0.22.

Institutional Investors Weigh In On Haynes International

A number of institutional investors have recently made changes to their positions in the stock. Cornercap Investment Counsel Inc. acquired a new position in shares of Haynes International in the second quarter worth approximately $526,000. BNP Paribas Financial Markets raised its holdings in Haynes International by 8.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock worth $165,000 after purchasing an additional 220 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Haynes International by 29.5% in the 2nd quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock worth $10,529,000 after purchasing an additional 40,904 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Haynes International by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock valued at $9,446,000 after purchasing an additional 4,153 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Haynes International by 3.2% during the second quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock worth $2,347,000 after buying an additional 1,245 shares during the last quarter. Institutional investors own 97.31% of the company’s stock.

Haynes International Company Profile

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, China, and internationally. The company offers high-temperature resistant alloys used by manufacturers of equipment, including jet engines for the aerospace market, gas turbine engines for power generation, and industrial heating equipment.