AK Steel Holding Corp. Sees Significant Growth in Short Interest (AKS)
Shares of AK Steel Holding Corp. (NYSE:AKS) saw a large growth in short interest in April. As of April 30th, there was short interest totalling 41,598,818 shares, a growth of 6.4% from the April 15th total of 39,097,189 shares, Stock Ratings Network reports. Approximately 31.9% of the company’s shares are short sold. Based on an average trading volume of 6,339,404 shares, the days-to-cover ratio is presently 6.6 days.
A number of research firms have recently commented on AKS. 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.57.
AK Steel Holding Corp. (NYSE:AKS) opened at 6.32 on Thursday. AK Steel Holding Corp. has a one year low of $2.92 and a one year high of $8.47. The stock’s 50-day moving average is $6.94 and its 200-day moving average is $6.58. The company’s market cap is $864.0 million.
AK Steel Holding Corp. (NYSE:AKS) last released its earnings data on Tuesday, April 22nd. The company reported ($0.40) EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis.
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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