Russel Metals Inc. (OTCMKTS:RUSMF) Sees Large Growth in Short Interest

Russel Metals Inc. (OTCMKTS:RUSMF) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 563,505 shares, a growth 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 presently 39.6 days.

Russel Metals Stock Performance

Shares of OTCMKTS RUSMF opened at $44.25 on Friday. The company’s 50-day simple moving average is $40.42 and its 200-day simple moving average is $35.79. Russel Metals has a 52-week low of $27.78 and a 52-week high of $45.91.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Russel Metals in a report on Thursday, May 7th. TD Securities restated a “buy” rating on shares of Russel Metals in a research report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Russel Metals presently has a consensus 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.