Gerdau SA (GGB) Short Interest Update

Gerdau SA (NYSE:GGB) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 40,223,773 shares, an increase of 59.7% from the January 12th total of 25,185,577 shares. Based on an average daily volume of 12,755,195 shares, the short-interest ratio is currently 3.2 days.

A number of brokerages have weighed in on GGB. Zacks Investment Research raised shares of Gerdau from a “sell” rating to a “hold” rating in a report on Monday, January 15th. Credit Suisse Group raised shares of Gerdau from a “neutral” rating to an “outperform” rating in a report on Friday, February 2nd. Goldman Sachs Group reissued a “buy” rating on shares of Gerdau in a report on Monday, October 23rd. ValuEngine raised shares of Gerdau from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. Finally, Bank of America raised shares of Gerdau from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a report on Monday, November 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $4.50.

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Gerdau by 9.2% during the 2nd quarter. Vanguard Group Inc. now owns 11,418,488 shares of the basic materials company’s stock worth $34,826,000 after acquiring an additional 958,540 shares during the period. Sei Investments Co. lifted its holdings in shares of Gerdau by 69.8% during the 3rd quarter. Sei Investments Co. now owns 147,791 shares of the basic materials company’s stock worth $507,000 after acquiring an additional 60,732 shares during the period. TCW Group Inc. bought a new position in shares of Gerdau during the 3rd quarter worth about $1,036,000. Virtu KCG Holdings LLC lifted its holdings in shares of Gerdau by 83.7% during the 2nd quarter. Virtu KCG Holdings LLC now owns 87,425 shares of the basic materials company’s stock worth $267,000 after acquiring an additional 39,840 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Gerdau by 33.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,131,604 shares of the basic materials company’s stock valued at $30,865,000 after purchasing an additional 2,267,649 shares during the last quarter. 4.88% of the stock is owned by institutional investors.

Gerdau (GGB) opened at $4.29 on Monday. The company has a market cap of $6,980.00, a PE ratio of -11.92 and a beta of 2.46. Gerdau has a 1-year low of $2.60 and a 1-year high of $4.79. The company has a current ratio of 1.89, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57.

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Gerdau Company Profile

Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

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