Resolute Forest Products Inc. (NYSE:RFP) Closed Significantly Above Its 50 Day Moving Average

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It is trading at $5.90 impressively higher than $5.27, the 50 day moving average and significantly higher than the 200 day moving average of $4.93. The 50 day moving average moved up $0.63 and the 200 day average was up $0.97. Trading volume for Resolute Forest Products Inc. was 312 by the end of trading on Tuesday. Trading volume was down 99.90% under the stocks average daily volume.

Short traders are more bullish on shares of Resolute Forest Products Inc. recently as evidenced by the fall in short interest. The firm experienced a fall in short interest of -20.70% as of September 29, 2017 from the last reporting period. Short interest fell 245,912 over that timeframe. Days to cover decreased from 9.0 to 5.0 and the percentage of shorted shares was 0.01% on September 29.

Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Jane Street Group, LLC had disposed of 7,800 shares trimming its holdings by 42.4%. The value of the investment in (RFP) decreased from $100,000 to $47,000 a change of 53.0% since the last quarter. As of quarter end Ubs Group Ag had sold a total of 89,714 shares trimming its position 10.2%. The value in dollars went from $4,774,000 to $3,459,000 a change of $1,315,000 for the reporting period.

As of quarter end Acadian Asset Management LLC had sold a total of 68,715 shares trimming its stake by 17.1%. The value of the company’s investment in Resolute Forest Products Inc. decreased from $1,770,000 to $1,686,000 decreasing 4.7% quarter over quarter. As of the end of the quarter Cutler Group LP had disposed of 47,687 shares trimming its holdings by 88.8%. The value of the total investment in Resolute Forest Products Inc. went from $56,000 to $30,000 a change of $26,000 quarter to quarter.

As of the latest earnings report the EPS was $-1.69 and is estimated to be $-0.09 for the current year with 89,750,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $0.07 and the next full year EPS is anticipated to be $0.17.

Resolute Forest Products Inc., launched on January 25, 2007, operates in the forest products industry. The Company offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. As of December 31, 2016, the Company owned or operated over 40 pulp, paper, tissue and wood products facilities in the United States and Canada. Its segments include market pulp, tissue, wood products, newsprint and specialty papers. It also sells green power produced from renewable sources, wood chips and other wood-related products to customers located in Canada and the United States..