Short Interest in AK Steel Holding Corp. (AKS) Drops By 7.9%
AK Steel Holding Corp. (NYSE:AKS) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 63,215,598 shares, a decrease of 7.9% from the October 14th total of 68,663,939 shares. Based on an average trading volume of 25,504,336 shares, the short-interest ratio is currently 2.5 days. Approximately 27.4% of the company’s stock are short sold.
Several research firms recently issued reports on AKS. Jefferies Group reaffirmed a “hold” rating on shares of AK Steel Holding Corp. in a report on Saturday, October 1st. Credit Suisse Group AG set a $8.00 price target on shares of AK Steel Holding Corp. and gave the company a “buy” rating in a report on Saturday, October 8th. Zacks Investment Research raised shares of AK Steel Holding Corp. from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a report on Tuesday, November 15th. Vetr raised shares of AK Steel Holding Corp. from a “strong sell” rating to a “sell” rating and set a $7.45 price target on the stock in a report on Tuesday, November 15th. Finally, Cowen and Company upped their price target on shares of AK Steel Holding Corp. from $5.00 to $7.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.46.
AK Steel Holding Corp. (NYSE:AKS) opened at 7.96 on Friday. The company has a 50-day moving average of $5.21 and a 200-day moving average of $4.87. The company’s market cap is $1.90 billion. AK Steel Holding Corp. has a 12 month low of $1.64 and a 12 month high of $8.05.
AK Steel Holding Corp. (NYSE:AKS) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.08. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. AK Steel Holding Corp. had a negative net margin of 1.54% and a negative return on equity of 24.32%. AK Steel Holding Corp.’s quarterly revenue was down 15.0% on a year-over-year basis. During the same quarter last year, the company posted $0.04 earnings per share. Analysts predict that AK Steel Holding Corp. will post $0.30 EPS for the current year.
Large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in AK Steel Holding Corp. by 61.5% in the first quarter. BlackRock Inc. now owns 24,495 shares of the company’s stock worth $101,000 after buying an additional 9,327 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in AK Steel Holding Corp. during the third quarter worth $106,000. Wedbush Securities Inc. acquired a new stake in AK Steel Holding Corp. during the third quarter worth $120,000. Hsbc Holdings PLC increased its stake in AK Steel Holding Corp. by 15.9% in the third quarter. Hsbc Holdings PLC now owns 27,990 shares of the company’s stock worth $135,000 after buying an additional 3,843 shares in the last quarter. Finally, PineBridge Investments L.P. increased its stake in AK Steel Holding Corp. by 41.7% in the second quarter. PineBridge Investments L.P. now owns 30,205 shares of the company’s stock worth $141,000 after buying an additional 8,896 shares in the last quarter. Institutional investors and hedge funds own 59.52% of the company’s stock.
AK Steel Holding Corp. Company Profile
AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.
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