Haynes International (NASDAQ:HAYN) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Haynes International, Inc. (NASDAQ:HAYN) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $59.84 and traded as high as $61.01. Haynes International shares last traded at $60.99, with a volume of 1,035,700 shares.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Haynes International in a report on Saturday. They set a “hold” rating on the stock.

Haynes International Stock Up 0.0 %

The business has a 50 day simple moving average of $60.78 and a 200-day simple moving average of $59.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74. The firm has a market capitalization of $779.45 million, a price-to-earnings ratio of 20.96, a P/E/G ratio of 0.85 and a beta of 1.39.

Hedge Funds Weigh In On Haynes International

A number of institutional investors have recently bought and sold shares of HAYN. BNP Paribas Financial Markets increased its holdings in shares of Haynes International by 8.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock worth $165,000 after buying an additional 220 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of Haynes International in the 2nd quarter valued at $526,000. Anson Funds Management LP acquired a new position in shares of Haynes International in the 3rd quarter valued at $1,445,000. Rhumbline Advisers increased its position in shares of Haynes International by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock worth $2,347,000 after purchasing an additional 1,245 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Haynes International by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock valued at $9,446,000 after buying an additional 4,153 shares during the period. 97.31% of the stock is owned by hedge funds and other institutional investors.

Haynes International Company Profile

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, China, and internationally. The company offers high-temperature resistant alloys used by manufacturers of equipment, including jet engines for the aerospace market, gas turbine engines for power generation, and industrial heating equipment.