Raging Capital Management LLC boosted its stake in shares of Rentech, Inc. (NASDAQ:RTK) by 119.1% during the first quarter, Holdings Channel reports. The institutional investor owned 4,366,781 shares of the energy company’s stock after buying an additional 2,373,525 shares during the period. Raging Capital Management LLC owned approximately 18.82% of Rentech worth $2,183,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Rentech by 39.9% in the first quarter. Vanguard Group Inc. now owns 475,256 shares of the energy company’s stock valued at $238,000 after buying an additional 135,614 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Rentech by 4.0% in the fourth quarter. Renaissance Technologies LLC now owns 816,174 shares of the energy company’s stock valued at $2,024,000 after buying an additional 31,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Rentech by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 138,026 shares of the energy company’s stock valued at $342,000 after buying an additional 10,829 shares in the last quarter. Institutional investors and hedge funds own 31.43% of the company’s stock.
Rentech, Inc. (RTK) traded up 5.7843% during midday trading on Friday, reaching $0.4444. The company had a trading volume of 102,303 shares. The company’s 50-day moving average is $0.44 and its 200 day moving average is $1.23. Rentech, Inc. has a 52-week low of $0.36 and a 52-week high of $3.97. The company has a market cap of $10.31 million, a PE ratio of 0.0800 and a beta of 1.30.
Several brokerages have recently issued reports on RTK. Zacks Investment Research lowered Rentech from a “hold” rating to a “sell” rating in a report on Friday, February 24th. Feltl & Co. lowered Rentech from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st.
Rentech, Inc is a provider of wood fiber processing services, wood chips and wood pellets. The Company’s processing business includes Fulghum Fibres, Inc (Fulghum), which operates approximately 30 wood chipping mills in the United States and South America. The Company provides wood yard operations services.
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