Real Industry, Inc. (NASDAQ:RELY) Short Interest Update
Real Industry, Inc. (NASDAQ:RELY) was the target of a large decline in short interest in June. As of June 30th, there was short interest totalling 1,500,714 shares, a decline of 42.6% from the June 15th total of 2,612,797 shares. Currently, 5.2% of the company’s stock are sold short. Based on an average trading volume of 483,132 shares, the days-to-cover ratio is currently 3.1 days.
Several equities analysts recently weighed in on RELY shares. B. Riley restated a “buy” rating and set a $8.00 target price on shares of Real Industry in a report on Monday, May 8th. Zacks Investment Research upgraded shares of Real Industry from a “sell” rating to a “hold” rating in a report on Thursday.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of Real Industry during the fourth quarter valued at approximately $1,955,000. State Street Corp raised its position in shares of Real Industry by 8.1% in the fourth quarter. State Street Corp now owns 346,284 shares of the financial services provider’s stock valued at $2,114,000 after buying an additional 25,915 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Real Industry by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 288,086 shares of the financial services provider’s stock valued at $1,757,000 after buying an additional 24,537 shares during the period. Tocqueville Asset Management L.P. raised its position in shares of Real Industry by 71.2% in the first quarter. Tocqueville Asset Management L.P. now owns 1,350,041 shares of the financial services provider’s stock valued at $3,848,000 after buying an additional 561,246 shares during the period. Finally, Boston Partners raised its position in shares of Real Industry by 52.0% in the first quarter. Boston Partners now owns 1,531,172 shares of the financial services provider’s stock valued at $4,364,000 after buying an additional 524,032 shares during the period. Institutional investors own 59.24% of the company’s stock.
Real Industry (NASDAQ RELY) opened at 2.50 on Monday. The company’s 50 day moving average is $2.96 and its 200 day moving average is $4.05. Real Industry has a 12-month low of $1.90 and a 12-month high of $8.83. The firm’s market cap is $72.18 million.
Real Industry (NASDAQ:RELY) last announced its quarterly earnings results on Wednesday, May 10th. The financial services provider reported ($0.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by $0.01. Real Industry had a negative return on equity of 53.24% and a negative net margin of 8.16%. The business had revenue of $337.10 million for the quarter, compared to analyst estimates of $315.07 million. During the same quarter last year, the company earned ($0.38) EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts anticipate that Real Industry will post ($1.38) earnings per share for the current year.
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About Real Industry
Real Industry, Inc is a holding company. The Company focuses on the operations of Real Alloy Holding, Inc (Real Alloy), which is engaged in aluminum recycling. The Company’s segments include Real Alloy North America (RANA) and Real Alloy Europe (RAEU). The RANA segment includes aluminum melting, processing, recycling and alloying activities conducted in approximately 20 facilities located in the United States, Canada and Mexico.
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