Short Interest in Universal Stainless & Alloy Products (NASDAQ:USAP) Drops By 13.1%

Universal Stainless & Alloy Products (NASDAQ:USAP) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 153,200 shares, a decline of 13.1% from the August 30th total of 176,300 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average trading volume of 52,100 shares, the days-to-cover ratio is presently 2.9 days.

USAP stock traded down $0.16 during trading on Wednesday, hitting $14.49. The company had a trading volume of 14,958 shares, compared to its average volume of 45,318. The firm has a market capitalization of $129.09 million, a price-to-earnings ratio of 11.88 and a beta of 1.46. The business has a 50 day moving average of $15.21 and a 200 day moving average of $15.30. Universal Stainless & Alloy Products has a fifty-two week low of $12.53 and a fifty-two week high of $24.61. The company has a current ratio of 4.36, a quick ratio of 1.09 and a debt-to-equity ratio of 0.27.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $71.00 million during the quarter, compared to analyst estimates of $67.36 million. Universal Stainless & Alloy Products had a return on equity of 3.39% and a net margin of 3.03%. As a group, equities analysts predict that Universal Stainless & Alloy Products will post 1.03 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in Universal Stainless & Alloy Products in the 2nd quarter valued at about $204,000. Monarch Partners Asset Management LLC raised its holdings in Universal Stainless & Alloy Products by 51.1% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 26,150 shares of the basic materials company’s stock worth $418,000 after buying an additional 8,840 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in Universal Stainless & Alloy Products by 109.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 29,500 shares of the basic materials company’s stock worth $472,000 after buying an additional 15,390 shares during the period. Marshall Wace LLP acquired a new stake in Universal Stainless & Alloy Products during the 1st quarter worth about $595,000. Finally, Paloma Partners Management Co acquired a new stake in Universal Stainless & Alloy Products during the 2nd quarter worth about $686,000. 80.32% of the stock is owned by institutional investors.

Several equities analysts have recently issued reports on USAP shares. Cowen set a $22.00 price target on shares of Universal Stainless & Alloy Products and gave the company a “buy” rating in a report on Wednesday, August 7th. ValuEngine raised shares of Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. KeyCorp reduced their price objective on shares of Universal Stainless & Alloy Products from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Monday. Finally, Zacks Investment Research raised shares of Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a report on Friday, October 11th.

Universal Stainless & Alloy Products Company Profile

Universal Stainless & Alloy Products, Inc, together with its subsidiaries, manufactures and markets semi-finished and finished specialty steel products in the United States and internationally. The company's products include stainless steel, nickel alloys, tool steel, and various other alloyed steels.

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