Steel Dynamics Short Interest Up 49.5% in July (STLD)
Shares of Steel Dynamics (NASDAQ:STLD) were the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 4,349,484 shares, a growth of 49.5% from the July 15th total of 2,909,532 shares, AnalystRatings.Net reports. Currently, 2.0% of the company’s stock are short sold. Based on an average trading volume of 5,621,113 shares, the short-interest ratio is currently 0.8 days.
A number of research firms have recently commented on STLD. Analysts at KeyCorp upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Monday, August 4th. They now have a $28.00 price target on the stock. Separately, analysts at Nomura reiterated a “buy” rating on shares of Steel Dynamics in a research note on Wednesday, July 23rd. They now have a $28.00 price target on the stock, up previously from $22.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Steel Dynamics in a research note on Wednesday, July 23rd. They now have a $23.50 price target on the stock, up previously from $21.50. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $22.52.
Steel Dynamics (NASDAQ:STLD) opened at 22.135 on Thursday. Steel Dynamics has a 52-week low of $15.05 and a 52-week high of $22.16. The stock has a 50-day moving average of $19.87 and a 200-day moving average of $18.18. The company has a market cap of $5.313 billion and a P/E ratio of 22.52.
Steel Dynamics (NASDAQ:STLD) last released its earnings data on Monday, July 21st. The company reported $0.31 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.32 by $0.01. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the company posted $0.13 earnings per share. Steel Dynamics’s revenue was up 14.9% compared to the same quarter last year. Analysts expect that Steel Dynamics will post $1.21 EPS for the current fiscal year.
Steel Dynamics, Inc is a steel producer and metals recycler in the United States. The Company operates in three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations.
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