Russel Metals Inc. (OTCMKTS:RUSMF) Short Interest Down 36.9% in April

Russel Metals Inc. (OTCMKTS:RUSMF) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 189,519 shares, a decrease of 36.9% from the April 15th total of 300,244 shares. Based on an average daily trading volume, of 9,975 shares, the short-interest ratio is currently 19.0 days.

Russel Metals Stock Performance

Shares of OTCMKTS RUSMF opened at $42.78 on Tuesday. Russel Metals has a fifty-two week low of $27.78 and a fifty-two week high of $43.86. The company’s 50 day simple moving average is $36.63 and its 200 day simple moving average is $33.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. National Bank Financial cut shares of Russel Metals from an “outperform” rating to a “sector perform” rating in a research report on Thursday, February 12th. Royal Bank Of Canada restated an “outperform” rating on shares of Russel Metals in a research report on Friday, February 13th. TD Securities reaffirmed 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 note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Russel Metals has an average rating of “Moderate Buy”.

About Russel Metals

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.