Short Interest Filing: What’s Propelling Olympic Steel Incorporated (NASDAQ:ZEUS) After Lower Shorts Reported?

November 22, 2016 - By Clifton Ray   ·   0 Comments

Short Interest Filing: What’s Propelling Olympic Steel Incorporated (NASDAQ:ZEUS) After Lower Shorts Reported?

The stock of Olympic Steel Incorporated (NASDAQ:ZEUS) registered a decrease of 11.57% in short interest. ZEUS’s total short interest was 356,000 shares in November as published by FINRA. Its down 11.57% from 402,600 shares, reported previously. With 100,200 shares average volume, it will take short sellers 4 days to cover their ZEUS’s short positions. The short interest to Olympic Steel Incorporated’s float is 3.92%. The stock closed at $22.64 during the last session. It is down 17.55% since April 20, 2016 and is uptrending. It has outperformed by 12.99% the S&P500.

Olympic Steel, Inc. is a metals service center. The company has a market cap of $250.54 million. The Firm provides metals processing and distribution services for a range of customers. It currently has negative earnings. The Firm operates through three divisions: carbon flat products, specialty metals flat products, and tubular and pipe products.

Insitutional Activity: The institutional sentiment decreased to 1.14 in 2016 Q2. Its down 0.67, from 1.81 in 2016Q1. The ratio fall, as 8 funds sold all Olympic Steel, Inc. shares owned while 29 reduced positions. 31 funds bought stakes while 36 increased positions. They now own 7.84 million shares or 10.14% more from 7.12 million shares in 2016Q1.
Cornerstone Capital Management Holding Limited Co holds 0.01% or 67,476 shares in its portfolio. Panagora Asset Management Incorporated holds 0.01% or 66,138 shares in its portfolio. Schwab Charles Invest Management accumulated 0% or 13,600 shares. Victory Cap Mgmt accumulated 0% or 34,600 shares. The New York-based Teachers Advsr has invested 0% in Olympic Steel, Inc. (NASDAQ:ZEUS). Van Eck Associate Corporation has 15,565 shares for 0% of their US portfolio. Eagle Global Advisors Ltd Llc has 0.05% invested in the company for 57,410 shares. Strs Ohio accumulated 0% or 24,500 shares. Eam Lc owns 71,527 shares or 0.29% of their US portfolio. American Group Incorporated accumulated 0% or 6,810 shares. Acadian Asset Mgmt Limited Co owns 431,720 shares or 0.06% of their US portfolio. Ameriprise Fincl last reported 0% of its portfolio in the stock. Deutsche Bancorporation Ag reported 41,048 shares or 0% of all its holdings. Gerstein Fisher holds 0.16% of its portfolio in Olympic Steel, Inc. (NASDAQ:ZEUS) for 44,209 shares. Millennium Management Lc holds 0% or 7,802 shares in its portfolio.

Olympic Steel, Inc. (NASDAQ:ZEUS) Ratings Coverage

Out of 3 analysts covering Olympic Steel Inc (NASDAQ:ZEUS), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Olympic Steel Inc has been the topic of 9 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The company was reinitiated on Wednesday, January 13 by Jefferies. The company was upgraded on Monday, August 24 by Jefferies. The stock of Olympic Steel, Inc. (NASDAQ:ZEUS) has “Sector Weight” rating given on Monday, September 19 by KeyBanc Capital Markets. The firm has “Sector Weight” rating by KeyBanc Capital Markets given on Monday, September 21. The stock has “Underweight” rating given by KeyBanc Capital Markets on Friday, August 19. The firm has “Hold” rating by Jefferies given on Monday, March 21. Macquarie Research downgraded the shares of ZEUS in a report on Tuesday, November 8 to “Neutral” rating.

ZEUS Company Profile

Olympic Steel, Inc., incorporated on April 25, 1978, is a metals service center. The Firm provides metals processing and distribution services for a range of customers. The Firm operates through three divisions: carbon flat products, specialty metals flat products, and tubular and pipe products. The Firm also performs toll processing of customer-owned metals. It sells certain products internationally, primarily in Canada, Puerto Rico and Mexico. The Firm maintains an inventory of carbon, stainless and aluminum coil, plate and sheet products, and tubular and pipe products. Coil is in the form of a continuous sheet, typically 36 to 96 inches wide, between 0.015 and 0.625 inches thick, and rolled into 10 to 30 ton coils.

More news for Olympic Steel, Inc. (NASDAQ:ZEUS) were recently published by: Crainscleveland.com, which released: “Olympic Steel Inc. names Andrew Greiff as EVP, chief operating officer” on August 24, 2016. Marketwatch.com‘s article titled: “Virtual Stock Exchange” and published on January 30, 2011 is yet another important article.

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By Clifton Ray


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