Russel Metals Inc. (OTCMKTS:RUSMF) Sees Significant Increase in Short Interest

Russel Metals Inc. (OTCMKTS:RUSMF) was the target of a significant increase in short interest in May. As of May 29th, there was short interest totaling 563,505 shares, an increase of 183.8% from the May 14th total of 198,561 shares. Based on an average daily trading volume, of 14,224 shares, the days-to-cover ratio is currently 39.6 days.

Russel Metals Stock Performance

Shares of OTCMKTS RUSMF remained flat at $44.25 during midday trading on Friday. The stock had a trading volume of 36 shares, compared to its average volume of 16,274. Russel Metals has a 1-year low of $27.78 and a 1-year high of $45.91. The firm has a fifty day simple moving average of $40.42 and a two-hundred day simple moving average of $35.79.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RUSMF. Royal Bank Of Canada restated an “outperform” rating on shares of Russel Metals in a research note on Friday, February 13th. TD Securities reiterated a “buy” rating on shares of Russel Metals in a report on Tuesday, May 5th. Finally, Scotiabank reissued an “outperform” rating on shares of Russel Metals in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Russel Metals Company Profile

Russel Metals Inc is one of North America’s leading metal distribution and processing companies, offering a comprehensive range of steel, aluminum, stainless steel, and specialty metal products. Through its extensive network of service centres, the company provides value-added processing such as precision cutting, shearing, burning, drilling, rolling, and plate profiling, alongside inventory management and just-in-time delivery solutions. This integrated model helps industrial, construction, and manufacturing customers optimize supply chains and reduce lead times.

Founded in 1929 and headquartered in Mississauga, Ontario, Russel Metals has grown through organic expansion and strategic acquisitions to establish a broad presence across Canada and the United States.