Schnitzer Steel Industries (SCHN) Shares are Up 5.98%

Schnitzer Steel Industries (SCHN) : Traders are bullish on Schnitzer Steel Industries (SCHN) as it has outperformed the S&P 500 by a wide margin of 9.21% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.81%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.98% in the last 1 week, and is up 8.63% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 9.64% and the 50-Day Moving Average is 10.22%.The 200 Day SMA reached 24.34%


Schnitzer Steel Industries (NASDAQ:SCHN): The stock opened in the green at $21.15 on Friday, but the bulls found it difficult to push the prices higher. The stock reached a high of $21.15 and a low of $20.64 for the day. The stock did not find buyers even at the lows and closed at $20.9 recording a loss of -0.10%. 564,106 shares exchanged hands during the trading day. The stock had closed at $20.9 in the previous days trading.

Schnitzer Steel Industries (SCHN) : The most positive equity analysts on Schnitzer Steel Industries (SCHN) expects the shares to touch $21, whereas, the least positive believes that the stock will trade at $15 in the short term. The company is covered by 3 Wall Street Brokerage Firms. The average price target for shares are $18 with an expected fluctuation of $3 from the mean.

Schnitzer Steel Industries, Inc. (SSI) is a recycler of ferrous and nonferrous scrap metal. The Company is recycler of used and salvaged vehicles and a manufacturer of finished steel products. The Company operates in three business segments: the Metals Recycling Business (MRB), the Auto Parts Business (APB) and the Steel Manufacturing Business (SMB). MRB buys, collects, processes, recycles, sells and brokers ferrous scrap metal (containing iron) to foreign and domestic steel producers, including SMB, and nonferrous scrap metal (not containing iron) to both foreign and domestic markets. APB procures used and salvaged vehicles and sells serviceable used auto parts from these vehicles through its 62 self-service auto parts stores located across the United States and Western Canada. SMB operates a steel mini-mill in McMinnville, Oregon that produces a range of finished steel products using recycled metal and other raw materials.

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