Company shares are trading at $20.54 quite a bit higher than $18.48, the 50 day moving average and much higher than the 200 day moving average of $17.82. The 50 day moving average was up by +11.13% whereas the 200 day moving average was up $2.72 or +15.25%. Trading was light with 12K shares changing hands in the last trading session. Shares saw a steep decrease in trading volume of 46.39% under the normal average daily volume.
Traders are more bullish on shares of the company recently if you take note of the downtick in short interest. The company recorded a fall in short interest from August 15, 2017 to August 31, 2017 of -44.06%. Short interest decreased from 43,938 to 24,577 over that period. The days to cover decreased to 1.0 and the percentage of shorted shares was 0.00% on August 31.
These funds have shifted positions in (USAP). As of the end of the quarter Fort Pitt Capital Group, LLC had disposed of 200 shares trimming its position 0.3%. The value of the investment in (USAP) went from $1,124,000 to $1,285,000 a change of 14.3% for the reporting period. As of quarter end Ancora Advisors, LLC had bought a total of 2,925 shares growing its holdings by 3.1%. The value in dollars increased from $1,623,000 to $1,919,000 a change of $296,000 quarter to quarter.
Eam Investors, LLC downsized its stake by shedding 83,191 shares a decrease of 74.3%. Eam Investors, LLC owns 28,845 shares worth $562,000. The total value of its holdings decreased 54.0%. As of the end of the quarter Tower Research Capital LLC (trc) had bought a total of 7 shares growing its stake by 5.1%. The value of the total investment in Universal Stainless & Alloy went from $2,000 to $3,000 increasing 50.0% quarter over quarter.
As of the last earnings report the EPS was $-0.29 and is expected to be $0.35 for the current year with 7,228,000 shares now outstanding. Analysts expect next quarter’s EPS will be $0.11 and the next full year EPS is projected to be $0.82.
Universal Stainless & Alloy Products, Inc., launched on June 27, 1994, manufactures and markets semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. The Business’s manufacturing process involves melting, remelting, heat treating, hot and cold rolling, forging, machining and cold drawing of semi-finished and finished specialty steels. The Business’s products are sold to service centers, forgers, rerollers, original equipment manufacturers (OEMs) and wire redrawers. The Company also performs conversion services on materials supplied by customers. The Business’s manufacturing locations include Bridgeville and Titusville, Pennsylvania; Dunkirk, New York, and North Jackson, Ohio..