Real Industry Inc (NASDAQ:RELY)
Real Industry, Inc. (RELY), a clinical stage biopharmaceutical company yesterday reported their first quarter 2017 financial results. Real reported a first quarter loss of $11.4 million. Real reported a first quarter earnings per share loss of $0.43 per share. Real reported a first quarter revenues of $337.1 million.
Real Industry, Inc. CEO’s Comments
Mr. Kyle Ross, President and Chief Executive Officer of Real Industry, stated, “We continued to make progress on Real Industry’s long-term strategy of executing M&A opportunities that will diversify our cash flows and create a sustainably profitable enterprise, with a focused effort on leveraging our unique tax assets. We are also continuing efforts to strengthen Real Alloy’s operations in advance of favorable trends in the marketplace. We are pleased that the positive turn in aluminum pricing and scrap spreads that improved throughout the first quarter in North America has continued into the early part of the second quarter and expect Segment Adjusted EBITDA in both of our segments to be further improved into the upcoming quarter.” Business Wire
RELY Technical Analysis
Real Industry Chart
RELY opened trading yesterday at $2.55 which was exactly the same as the previous day’s trading close. RELY closed trading yesterday at $2.45 and spiked up after market to $3.10, equivalent to a 27% increase from the closing price. Taking a look at the daily chart we can see that the last time RELY traded above these levels we have to go back to March 22nd when it traded at $3.20. Penny stocks like RELY can be light on volume so we’ll have to wait and make sure enough volume shows up at the open to make it worth while to trade.
Taking a closer look at the daily chart we can see that before the spike up RELY had been in an overall downward trend dating back to August 9th, 2016 when it traded at $8.50. RELY has a float of 26.06 million shares and traded below the normal daily trading volume on Wednesday.
For trading purposes, I would like to see RELY open trading on Thursday above $2.90 and if it does I would be looking to take a long position at the bell with a buy limit order as a market order may get filled with a lot of slippage. My stop loss would be $0.10 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
Company Profile
Real Industry, Inc., through its subsidiaries, engages in aluminum melting, processing, recycling, and alloying activities in the United States and internationally. The company operates in two segments, Real Alloy North America and Real Alloy Europe. It processes scrap aluminum and by-products; and manufactures wrought, cast, and specification or foundry alloys. The company serves the automotive, consumer packaging, aerospace, building and construction, steel, and durable goods industries, as well as wrought alloy producers, foundries, and casters. The company was formerly known as Signature Group Holdings, Inc. and changed its name to Real Industry, Inc. in June 2015. Real Industry, Inc. was founded in 1963 and is based in Sherman Oaks, California.