Short Interest in AK Steel Holding Corp. Drops By 11.2% (AKS)
Shares of AK Steel Holding Corp. (NYSE:AKS) were the recipient of a large decline in short interest in April. As of April 15th, there was short interest totalling 39,097,189 shares, a decline of 11.2% from the March 31st total of 44,039,975 shares, Analyst Ratings Network reports. Approximately 30.0% of the company’s stock are sold short. Based on an average daily trading volume, of 7,599,678 shares, the short-interest ratio is currently 5.1 days.
A number of analysts have recently weighed in on AKS shares. Analysts at Macquarie upgraded shares of AK Steel Holding Corp. from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 23rd. They now have a $11.00 price target on the stock, up previously from $6.00. Separately, analysts at Zacks downgraded shares of AK Steel Holding Corp. from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 3rd. They now have a $7.75 price target on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of AK Steel Holding Corp. in a research note on Tuesday, March 18th. They now have a $7.25 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $6.27.
AK Steel Holding Corp. (NYSE:AKS) opened at 6.84 on Friday. AK Steel Holding Corp. has a 52-week low of $2.92 and a 52-week high of $8.47. The stock’s 50-day moving average is $7.02 and its 200-day moving average is $6.41. The company’s market cap is $935.1 million.
AK Steel Holding Corp. (NYSE:AKS) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported ($0.40) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.43) by $0.03. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company posted ($0.07) earnings per share. AK Steel Holding Corp.’s revenue was up 1.0% compared to the same quarter last year. On average, analysts predict that AK Steel Holding Corp. will post $-0.01 earnings per share for the current fiscal year.
AK Steel Holding Corporation (NYSE:AKS) is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its wholly-owned subsidiary, AK Steel Corporation (AK Steel and, together with AK Holding, the Company).
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