Gerdau Sees Significant Increase in Short Interest (GGB)
Shares of Gerdau (NYSE:GGB) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 19,627,914 shares, an increase of 94.6% from the July 15th total of 10,084,880 shares, American Banking News reports. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,581,924 shares, the short-interest ratio is currently 3.0 days.
Separately, analysts at JPMorgan Chase & Co. downgraded shares of Gerdau from an “overweight” rating to a “neutral” rating in a research note on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy”.
Gerdau (NYSE:GGB) opened at 5.59 on Thursday. Gerdau has a 1-year low of $5.50 and a 1-year high of $8.41. The stock has a 50-day moving average of $6.03 and a 200-day moving average of $6.22. The company has a market cap of $9.528 billion and a price-to-earnings ratio of 12.56.
Gerdau (NYSE:GGB) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter. Analysts expect that Gerdau will post $0.97 EPS for the current fiscal year.
The company also recently declared a dividend, which is scheduled for Thursday, August 21st. Stockholders of record on Monday, August 11th will be given a dividend of $0.027 per share. The ex-dividend date of this dividend is Tuesday, August 12th.
Gerdau SA (NYSE:GGB) is a producer of long rolled steel.
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