Written on Wed, 07/14/2010 - 5:51am
By Chip Brian
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.
Olympic Steel (NASDAQ:ZEUS) has a short interest ratio of 8.4 based on average daily volume of 127,000 shares and 1.1 million shares short. That equates to 9.9% of the 10.9 million shares outstanding.
China Precision Steel (NASDAQ:CPSL) has a short interest ratio of 7.1 based on average daily volume of 467,000 shares and 3.3 million shares short. That equates to 7.2% of the 46.6 million shares outstanding.
Worthington Industries (NYSE:WOR) has a short interest ratio of 5.6 based on average daily volume of 783,000 shares and 4.4 million shares short. That equates to 5.5% of the 79.3 million shares outstanding.
Allegheny Technologies (NYSE:ATI) has a short interest ratio of 5.5 based on average daily volume of 2 million shares and 12.5 million shares short. That equates to 12.7% of the 98.5 million shares outstanding.
General Steel Holdings (NYSE:GSI) has a short interest ratio of 5.4 based on average daily volume of 490,000 shares and 2.6 million shares short. That equates to 5.1% of the 51.9 million shares outstanding.
SmarTrend is bearish on shares of GSI and our subscribers were alerted to Sell on February 04, 2010 at $3.90. The stock has fallen 26.3% since the alert was issued.
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