AK Steel Holding Corporation (AKS) Moves Lower on Volume Spike for January 31

Equities Staff  |

AK Steel Holding Corporation (AKS) traded on unusually high volume on Jan. 31, as the stock lost 7.83% to close at $5.06. On the day, AK Steel Holding Corporation saw 45.77 million shares trade hands on 89,180 trades. Considering that the stock averages only a daily volume of 18.48 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $9.19 and $4.00 over the last 52-weeks, its 50-day SMA is now $5.63, and its 200-day SMA $5.75. AK Steel Holding Corporation has a P/B ratio of -9.04. It also has a P/E ratio of 78.4.

AK Steel Holding Corp is engaged in manufacturing steel products such as flat-rolled, carbon, electrical, and stainless steel as well as tubular products for the automotive, construction, appliance, and machinery end markets.

Headquartered in West Chester, OH, AK Steel Holding Corporation has 8,500 employees and is currently under the leadership of CEO Roger K. Newport.

For a complete fundamental analysis analysis of AK Steel Holding Corporation, check out Equities.com’s Stock Valuation Analysis report for AKS.

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All data provided by QuoteMedia and was accurate as of 4:30PM ET.

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