Steel Dynamics (STLD): Price Target and June Short Interest Disclosure

Steel Dynamics (STLD) : 12 investment research analysts covering Steel Dynamics (STLD) have an average price target of $28.5 for the near short term. The highest target price given by the Brokerage Firm to the stock is $31 and the lowest target is $22 for the short term. Analysts expect the variance to be within $2.47 of the average price.

Steel Dynamics (STLD) stated gains of 2,193,852 shares or 20.6% in the short interest. The short interest registered from 10,644,610 on June 15,2016 to 12,838,462 on June 30,2016. In terms of floated shares, the shorted positions stood at 5.5%. The stock has been averaging 4,052,874 shares daily in trading and would need 3 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity Analysts at the Jefferies maintains the rating on Steel Dynamics (NASDAQ:STLD). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency raises the price target from $28 per share to $31 per share. The rating by the firm was issued on June 10, 2016.


Steel Dynamics (NASDAQ:STLD): stock turned positive on Thursday. Though the stock opened at $27.77, the bulls momentum made the stock top out at $27.94 level for the day. The stock recorded a low of $27.335 and closed the trading day at $27.73, in the green by 0.98%. The total traded volume for the day was 2,461,202. The stock had closed at $27.46 in the previous days trading.

Steel Dynamics, Inc. (SDI) is a steel producing and a metal recycling company. The Company operates in three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations. The Company offers hot roll, cold roll, galvanized, galvanneal, Galvalume, Galfan, and painted sheet steel; a range of structural steel beams and rails; engineered steel of various sizes and chemistries; and various merchant-bar products, rounds, angles, flats and channels. The Company also offers steel finishing and fabrication services. In the metals recycling operations of its metals recycling and ferrous resources segment, its products include an array of both ferrous and non-ferrous scrap processing, scrap management, transportation, and brokerage products and services. Its steel fabrication segment produces steel joists and steel decking materials.

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