Rayonier Advanced Materials Inc. (NYSE:RYAM) Short Interest Down 16.2% in January

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the recipient of a significant decline in short interest in January. As of January 30th, there was short interest totaling 2,049,083 shares, a decline of 16.2% from the January 15th total of 2,444,293 shares. Based on an average daily volume of 836,348 shares, the short-interest ratio is presently 2.5 days. Currently, 3.2% of the shares of the stock are sold short. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily volume of 836,348 shares, the short-interest ratio is presently 2.5 days.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RYAM shares. Zacks Research raised Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.00.

Rayonier Advanced Materials Price Performance

Shares of RYAM traded up $0.10 during trading hours on Wednesday, hitting $8.01. 360,871 shares of the company were exchanged, compared to its average volume of 862,613. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.57 and a quick ratio of 0.89. The company has a market capitalization of $536.52 million, a PE ratio of -1.28 and a beta of 2.22. The firm has a fifty day simple moving average of $7.25 and a 200-day simple moving average of $6.60. Rayonier Advanced Materials has a one year low of $3.35 and a one year high of $8.95.

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.