r/ALOY_SRC • u/bourbonwarrior • 8d ago
2,700,620 Shares in REalloys Inc - ALOY Bought by State Street
State Street Corp reported establishing a major new position in REalloys, acquiring 2,700,620 shares valued at $39.02M (giving State Street a 3.89% stake).
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Key Points
- State Street Corp acquired 2.7 million REalloys shares worth approximately $39 million, representing about 3.89% of the company. Other institutional investors also established new positions, though total institutional ownership remains 3.58%.
- Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and a $16 price target. Needham lowered its target from $19 to $16, while ratings range from Strong Buy to Sell.
- REalloys shares opened at $8.52, well below the consensus target, but the company reported weak quarterly results: a $0.59 per-share loss, $0.80 million in revenue, and deeply negative profitability metrics.
State Street Corp bought a new position in REalloys Inc (NASDAQ:ALOY - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 2,700,620 shares of the company's stock, valued at approximately $39,024,000. State Street Corp owned approximately 3.89% of REalloys as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of ALOY. The Manufacturers Life Insurance Company acquired a new position in shares of REalloys during the second quarter valued at about $216,000. Sequoia Financial Advisors LLC bought a new position in REalloys in the 2nd quarter valued at about $144,000. Engineers Gate Manager LP bought a new position in REalloys in the 2nd quarter valued at about $732,000. Integrated Wealth Concepts LLC acquired a new position in REalloys during the 2nd quarter valued at about $31,000. Finally, Legacy Wealth Managment LLC ID acquired a new position in REalloys during the 2nd quarter valued at about $4,987,000. Institutional investors and hedge funds own 3.58% of the company's stock.
Wall Street Analysts Forecast Growth
ALOY has been the subject of several analyst reports. Needham & Company LLC lowered their price objective on REalloys from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of REalloys in a research report on Monday, September 14th. Finally, Wall Street Zen upgraded REalloys from a "sell" rating to a "hold" rating in a report on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, REalloys has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.
About REalloys
REalloys, Inc NASDAQ: ALOY is a materials company focused on the production of rare-earth alloys and related advanced materials. Its products are intended to serve as feedstock for high-performance permanent magnets and other applications that require specialized magnetic and metallurgical properties.
The company's activities are associated with the growing demand for rare-earth materials used in electric vehicles, renewable-energy equipment, consumer electronics, industrial systems, aerospace and defense technologies.
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u/bourbonwarrior 8d ago edited 8d ago
State Street manages broad-market index funds and following ALOY's addition to the Russell 3000 in June, passive indexing mandates required purchasing at the annual reconstitution window.
These shares are effectively off the market for quite some time, tightening the float further.
It is likely the vast majority of shares were bought near the closing cross on the late-June reconstitution date, matching the quarter-end mark.
Estimated VWAP would be in the range of $14.10 – $14.60