Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) Short Interest Down 59.8% in September

Key Points

• Short interest in Usinas Siderurgicas de Minas Gerais SA plummeted by 59.8% in September, falling from 251,600 shares to 101,100 shares.
• Zacks Research has upgraded the stock from a "strong sell" to a "hold" rating, contributing to an average rating of "hold" among analysts.
• The company's recent quarterly earnings report showed 0.01 EPS, missing estimates, with a revenue of $1.17 billion against a consensus estimate of $6.74 billion.

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY - Get Free Report) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 101,100 shares, a decline of 59.8% from the September 15th total of 251,600 shares. Based on an average trading volume of 284,800 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 284,800 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Usinas Siderurgicas de Minas Gerais from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Usinas Siderurgicas de Minas Gerais currently has an average rating of "Hold".

Usinas Siderurgicas de Minas Gerais Trading Down 0.8%

USNZY stock opened at $0.86 on Friday. Usinas Siderurgicas de Minas Gerais has a 1-year low of $0.70 and a 1-year high of $1.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.26 and a quick ratio of 2.56. The company has a market capitalization of $471.13 million, a price-to-earnings ratio of 17.20 and a beta of 1.40. The business has a 50 day simple moving average of $0.86 and a two-hundred day simple moving average of $0.90.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Usinas Siderurgicas de Minas Gerais had a return on equity of 1.62% and a net margin of 1.66%.The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $6.74 billion. Research analysts anticipate that Usinas Siderurgicas de Minas Gerais will post 0.09 EPS for the current fiscal year.

About Usinas Siderurgicas de Minas Gerais

Usinas Siderúrgicas de Minas Gerais SA manufactures and markets flat steel products in Brazil and internationally. The company operates through three segments: Mining and Logistics, Steel Metallurgy, and Steel Transformation. It extracts and process iron ore, such as pellet and sinter feed and, granulated iron ore; provides storage, handling, and road cargo transportation services; and operates highway and railway cargo terminals.

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