Friedman Industries Inc (NYSEAMERICAN:FRD) Short Interest Increased By 53.77%

July 27, 2018 - By Matthew Richard

The stock of Friedman Industries Inc (NYSEAMERICAN:FRD) registered an increase of 53.77% in short interest. FRD’s total short interest was 16,300 shares in July as published by FINRA. Its up 53.77% from 10,600 shares, reported previously. With 6,700 shares average volume, it will take short sellers 2 days to cover their FRD’s short positions. The short interest to Friedman Industries Inc’s float is 0.26%.

The stock increased 1.76% or $0.18 during the last trading session, reaching $10.39. About 57,822 shares traded or 18.58% up from the average. Friedman Industries, Incorporated (NYSEAMERICAN:FRD) has risen 11.19% since July 27, 2017 and is uptrending. It has underperformed by 1.38% the S&P500.

Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and steel and pipe distribution activities in the United States. The company has market cap of $72.83 million. The firm purchases hot-rolled steel coils; processes the coils into flat, finished sheet, and plate; and sells these products on a wholesale basis. It has a 26.64 P/E ratio. It also makes, purchases, processes, and markets tubular products, including line and oil country pipes, as well as pipes for structural and other miscellaneous applications.

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