Rayonier Advanced Materials (NYSE:RYAM) Stock Price Crosses Below 50-Day Moving Average – Should You Sell?

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s stock price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.41 and traded as low as $5.64. Rayonier Advanced Materials shares last traded at $5.7050, with a volume of 483,459 shares changing hands.

Wall Street Analysts Forecast Growth

RYAM has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rayonier Advanced Materials currently has an average rating of “Hold” and an average target price of $6.00.

Rayonier Advanced Materials Stock Performance

The firm has a market cap of $382.29 million, a P/E ratio of -0.91 and a beta of 2.17. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.89 and a current ratio of 1.57. The business’s 50-day simple moving average is $6.41 and its 200 day simple moving average is $5.59.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Tuesday, November 4th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). Rayonier Advanced Materials had a negative return on equity of 13.64% and a negative net margin of 28.21%.The firm had revenue of $352.84 million for the quarter, compared to the consensus estimate of $373.70 million. As a group, equities analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several hedge funds and other institutional investors have recently made changes to their positions in RYAM. Millennium Management LLC lifted its stake in shares of Rayonier Advanced Materials by 177.3% in the 3rd quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company’s stock worth $9,817,000 after purchasing an additional 869,486 shares during the period. Nuveen LLC purchased a new stake in Rayonier Advanced Materials during the first quarter valued at approximately $3,750,000. Nantahala Capital Management LLC bought a new position in Rayonier Advanced Materials in the third quarter worth approximately $3,686,000. UBS Group AG boosted its stake in shares of Rayonier Advanced Materials by 156.9% during the 3rd quarter. UBS Group AG now owns 783,465 shares of the basic materials company’s stock worth $5,657,000 after acquiring an additional 478,500 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Rayonier Advanced Materials by 11.8% during the 1st quarter. American Century Companies Inc. now owns 2,425,104 shares of the basic materials company’s stock valued at $13,944,000 after acquiring an additional 255,784 shares during the period. Hedge funds and other institutional investors own 68.64% of the company’s stock.

About Rayonier Advanced Materials

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.