Short Interest in Olympic Steel, Inc. (NASDAQ:ZEUS) Declines By 20.5%

Olympic Steel, Inc. (NASDAQ:ZEUS) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 277,644 shares, a decrease of 20.5% from the December 31st total of 349,054 shares. Based on an average daily volume of 72,823 shares, the short-interest ratio is currently 3.8 days. Approximately 2.9% of the shares of the company are short sold. Approximately 2.9% of the shares of the company are short sold. Based on an average daily volume of 72,823 shares, the short-interest ratio is currently 3.8 days.

Olympic Steel Stock Performance

Shares of ZEUS opened at $48.09 on Friday. Olympic Steel has a 52-week low of $26.32 and a 52-week high of $51.81. The stock’s 50-day simple moving average is $44.20 and its 200 day simple moving average is $36.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 3.12. The stock has a market capitalization of $538.61 million, a price-to-earnings ratio of 41.10 and a beta of 1.74.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Olympic Steel from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Olympic Steel presently has an average rating of “Moderate Buy” and an average target price of $38.00.

Insiders Place Their Bets

In other Olympic Steel news, COO Andrew S. Greiff sold 4,500 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $40.42, for a total transaction of $181,890.00. Following the completion of the transaction, the chief operating officer directly owned 12,018 shares of the company’s stock, valued at approximately $485,767.56. This represents a 27.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Olympic Steel

A number of large investors have recently modified their holdings of ZEUS. EverSource Wealth Advisors LLC grew its stake in Olympic Steel by 823.3% during the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 741 shares in the last quarter. Quarry LP bought a new position in Olympic Steel in the 3rd quarter valued at $27,000. Strs Ohio bought a new position in Olympic Steel in the 3rd quarter valued at $58,000. CoreCap Advisors LLC grew its position in shares of Olympic Steel by 41.2% during the 3rd quarter. CoreCap Advisors LLC now owns 3,669 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 1,071 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Olympic Steel in the third quarter worth $142,000. 87.07% of the stock is currently owned by institutional investors.

Olympic Steel Company Profile

Olympic Steel, Inc is a leading metals service center headquartered in Cleveland, Ohio, specializing in the distribution of carbon, stainless, aluminum and alloy sheet, plate, bar, tubing, and piping products. The company offers a broad range of metals in various grades, sizes and dimensions, serving customers across a variety of industries. Olympic Steel operates as a one‐stop source for metals procurement, providing both standard inventory offerings and custom‐cut pieces to meet specific customer requirements.

Through its network of service centers in the United States and Mexico, Olympic Steel provides a suite of value‐added processing services, including precision laser and plasma cutting, shearing, slitting, shearing, forming, plate burning, leveling and robotic welding.