Rayonier Advanced Materials Inc. (NYSE:RYAM) Short Interest Down 28.0% in August

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

Rayonier Advanced Materials Price Performance

NYSE RYAM traded up $0.27 on Friday, hitting $7.75. 524,697 shares of the company were exchanged, compared to its average volume of 454,672. Rayonier Advanced Materials has a 1-year low of $2.66 and a 1-year high of $7.99. The firm has a 50 day moving average of $6.78 and a two-hundred day moving average of $5.46. The company has a current ratio of 1.69, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The company has a market cap of $510.65 million, a P/E ratio of -4.81 and a beta of 3.00.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.26. The firm had revenue of $419.00 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned ($0.25) EPS. On average, equities analysts predict that Rayonier Advanced Materials will post -0.36 EPS for the current year.

Institutional Trading of Rayonier Advanced Materials

A number of institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in Rayonier Advanced Materials in the second quarter worth $29,000. Simplicity Wealth LLC bought a new stake in shares of Rayonier Advanced Materials in the first quarter worth about $59,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Rayonier Advanced Materials during the 2nd quarter valued at about $61,000. Truist Financial Corp acquired a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $66,000. Finally, Aristides Capital LLC bought a new stake in Rayonier Advanced Materials during the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada increased their price objective on shares of Rayonier Advanced Materials from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th.

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.