Below are the top five companies in the Steel industry as measured by the short interest ratio. A higher short interest ratio may indicate the potential for a sizeable short squeeze.
China Precision Steel (NASDAQ:CPSL) has a short interest ratio of 11.8 based on average daily volume of 145,000 shares and 1.71 million shares short. That equates to 3.7% of the 46.6 million shares outstanding.
General Steel Holdings (NYSE:GSI) has a short interest ratio of 6.7 based on average daily volume of 202,000 shares and 1.35 million shares short. That equates to 2.5% of the 54.8 million shares outstanding.
AM Castle (NYSE:CAS) has a short interest ratio of 6.4 based on average daily volume of 104,000 shares and 672,000 shares short. That equates to 2.9% of the 23 million shares outstanding.
Worthington Industries (NYSE:WOR) has a short interest ratio of 5 based on average daily volume of 1.19 million shares and 5.94 million shares short. That equates to 8.2% of the 72.6 million shares outstanding.
Haynes International (NASDAQ:HAYN) has a short interest ratio of 4.8 based on average daily volume of 129,000 shares and 623,000 shares short. That equates to 5.1% of the 12.2 million shares outstanding.
SmarTrend currently has shares of China Precision Steel in an Downtrend and issued the Downtrend alert on February 24, 2011 at $1.64. The stock has fallen 50.8% since the Downtrend alert was issued.