Short Interest in Rayonier Advanced Materials Inc. (NYSE:RYAM) Declines By 29.6%

Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 647,100 shares, a drop of 29.6% from the February 28th total of 919,200 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 486,500 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank of Canada cut their target price on Rayonier Advanced Materials from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. StockNews.com downgraded Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research note on Monday, March 10th.

Rayonier Advanced Materials Stock Performance

RYAM traded down $0.51 during trading on Thursday, reaching $5.23. 551,156 shares of the company's stock were exchanged, compared to its average volume of 473,658. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. Rayonier Advanced Materials has a 1 year low of $3.71 and a 1 year high of $10.28. The company's fifty day simple moving average is $6.77 and its 200-day simple moving average is $7.76. The stock has a market capitalization of $344.68 million, a P/E ratio of -4.08 and a beta of 3.01.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RYAM. Ieq Capital LLC acquired a new position in Rayonier Advanced Materials in the 4th quarter worth about $83,000. Entropy Technologies LP acquired a new position in Rayonier Advanced Materials during the fourth quarter worth $84,000. Townsquare Capital LLC purchased a new position in Rayonier Advanced Materials during the fourth quarter valued at $85,000. Walleye Capital LLC acquired a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at about $113,000. Finally, Hsbc Holdings PLC increased its stake in shares of Rayonier Advanced Materials by 36.6% during the fourth quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company's stock worth $117,000 after purchasing an additional 3,852 shares in the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

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.