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Steel Dynamics (NASDAQ:STLD)‘s stock had its “buy” rating reissued by investment analysts at Bank of America in a note issued to investors on Thursday. They currently have a $26.00 price objective on the stock, up from their previous price objective of $23.00. Bank of America’s price objective would suggest a potential upside of 10.69% from the stock’s previous close.

Shares of Steel Dynamics (NASDAQ:STLD) opened at 23.49 on Thursday. Steel Dynamics has a one year low of $15.05 and a one year high of $23.71. The stock has a 50-day moving average of $21.13 and a 200-day moving average of $18.66. The company has a market cap of $5.639 billion and a P/E ratio of 24.49. Steel Dynamics also saw a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 5,301,258 shares, an increase of 21.9% from the July 31st total of 4,349,484 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 3,313,737 shares, the short-interest ratio is currently 1.6 days.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Monday, July 21st. The company reported $0.31 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts expect that Steel Dynamics will post $1.21 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Cowen and Company reiterated an “outperform” rating on shares of Steel Dynamics in a research note on Monday. They now have a $27.00 price target on the stock. Separately, analysts at Credit Suisse downgraded shares of Steel Dynamics from an “outperform” rating to a “neutral” rating in a research note on Monday. They now have a $23.00 price target on the stock, down previously from $23.30. Finally, 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. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Steel Dynamics presently has a consensus rating of “Buy” and an average price target of $23.45.

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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