AK Steel Holding (AKS) Short Interest Update

AK Steel Holding (NYSE:AKS) was the recipient of a significant increase in short interest in the month of March. As of March 29th, there was short interest totalling 84,830,924 shares, an increase of 10.0% from the March 15th total of 77,147,806 shares. Currently, 27.5% of the company’s shares are sold short. Based on an average daily volume of 16,530,842 shares, the days-to-cover ratio is presently 5.1 days.

A number of equities research analysts recently issued reports on AKS shares. Zacks Investment Research upgraded shares of AK Steel from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a report on Monday, January 8th. Longbow Research raised shares of AK Steel from a “neutral” rating to a “buy” rating and lifted their price target for the company from $5.53 to $7.00 in a research report on Wednesday, December 20th. Goldman Sachs began coverage on shares of AK Steel in a research report on Tuesday, March 20th. They set a “neutral” rating and a $6.00 price target on the stock. Bank of America cut shares of AK Steel from a “buy” rating to an “underperform” rating and reduced their price target for the company from $8.00 to $5.50 in a research report on Wednesday, January 31st. Finally, Cowen reaffirmed a “hold” rating and set a $7.00 price target on shares of AK Steel in a research report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $6.65.

NYSE AKS opened at $4.47 on Monday. AK Steel has a 52 week low of $4.00 and a 52 week high of $7.54. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.69 and a current ratio of 1.83. The firm has a market cap of $1,415.62, a PE ratio of 14.42, a PEG ratio of 1.42 and a beta of 2.89.

AK Steel (NYSE:AKS) last posted its earnings results on Tuesday, January 30th. The basic materials company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. AK Steel had a net margin of 0.16% and a return on equity of 71.24%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. equities research analysts anticipate that AK Steel will post 0.63 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of AKS. Millennium Management LLC lifted its position in shares of AK Steel by 189.0% during the fourth quarter. Millennium Management LLC now owns 3,362,383 shares of the basic materials company’s stock worth $19,031,000 after purchasing an additional 2,198,798 shares in the last quarter. Shellback Capital LP acquired a new position in shares of AK Steel during the fourth quarter worth $6,816,000. Masters Capital Management LLC acquired a new position in shares of AK Steel during the fourth quarter worth $5,660,000. Creative Planning lifted its position in shares of AK Steel by 66.7% during the fourth quarter. Creative Planning now owns 2,327,366 shares of the basic materials company’s stock worth $13,173,000 after purchasing an additional 931,560 shares in the last quarter. Finally, BlueCrest Capital Management Ltd lifted its position in shares of AK Steel by 77.6% during the fourth quarter. BlueCrest Capital Management Ltd now owns 1,792,056 shares of the basic materials company’s stock worth $10,143,000 after purchasing an additional 783,002 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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AK Steel Company Profile

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular products in the United States and internationally. It produces flat-rolled carbon steel products, including coated, cold-rolled, and hot-rolled carbon steel products; grain-oriented specialty stainless and electrical steels; and carbon and stainless steel tubing products.

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