Rayonier Advanced Materials Inc. (NYSE:RYAM) Sees Large Increase in Short Interest

Rayonier Advanced Materials Inc. (NYSE:RYAM) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 2,440,100 shares, a growth of 28.7% from the February 26th total of 1,896,406 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average daily volume of 1,491,321 shares, the short-interest ratio is presently 1.6 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. lifted its stake in shares of Rayonier Advanced Materials by 754.4% during the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 7,031 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Rayonier Advanced Materials in the second quarter valued at about $52,000. Graham Capital Management L.P. purchased a new position in Rayonier Advanced Materials in the fourth quarter valued at about $76,000. Tactive Advisors LLC raised its holdings in Rayonier Advanced Materials by 18.0% in the fourth quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 2,032 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Rayonier Advanced Materials by 46.7% during the third quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock valued at $82,000 after buying an additional 3,636 shares during the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RYAM has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Thursday, January 22nd. Royal Bank Of Canada upped their target price on Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rayonier Advanced Materials has an average rating of “Hold” and a consensus target price of $14.00.

Rayonier Advanced Materials Trading Up 0.1%

NYSE:RYAM opened at $10.75 on Monday. The firm has a 50-day simple moving average of $9.28 and a 200-day simple moving average of $7.58. Rayonier Advanced Materials has a one year low of $3.35 and a one year high of $11.85. The firm has a market cap of $720.29 million, a P/E ratio of -1.70 and a beta of 2.14. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.92 and a current ratio of 1.58.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, March 3rd. The basic materials company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.19). The business had revenue of $417.55 million for the quarter, compared to the consensus estimate of $364.07 million. Rayonier Advanced Materials had a negative net margin of 28.65% and a negative return on equity of 19.70%. Equities analysts anticipate that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

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.