Olympic Steel Inc. (ZEUS) experienced unusually high volume on Dec. 21, as the stock lost 1.04% to a closing price of $9.55. The stock saw 271,102 shares trade hands over the course of the day on 803 trades. Given that the stock’s average daily volume over the last month has been 76,082 shares a day, this represents a pretty substantial spike over the norm.
Olympic Steel Inc. has a P/B ratio of 0.4. The stock has traded between $20.93 and $6.40 over the last 52-weeks, its 50-day SMA is now $10.55, and its 200-day SMA $13.35.
Olympic Steel Inc is a metal services center in U.S. The Company is engaged in the processing and distribution of carbon, coated, aluminum and stainless steel, flat-rolled coil, sheet and plate products and tubular and pipe products.
Headquartered in Highland Hills, OH, Olympic Steel Inc. has 1,714 employees and is currently under the leadership of CEO Michael D. Siegal.
For a complete fundamental analysis analysis of Olympic Steel Inc., check out Equities.com’s Stock Valuation Analysis report for ZEUS. To see the latest independent stock recommendations from Equities.com’s analysts, visit our Research section.
THE IMPORTANCE OF THE RUSSELL 3000
The Russell 3000 is not well known outside the world of finance, but it’s one of the strongest indices out there for getting a broad sense of the stock market. Unlike the better-known Dow Jones Industrial Average or S&P 500, membership on the Russell 3000 isn’t selected by committee. It’s simply the 3,000 most valuable companies in the country.
With 3,000 stocks making up the index, it gives a broad look at the markets, including the small-and mid-cap companies that aren’t on the Dow or the S&P 500. And with a rules-based system for determining membership, there’s no bias that could potentially limit membership. That’s why many financial professionals will turn to the Russell 3000 long before the better-known indices when trying to take the temperature of the market.
For more news on the financial markets, go to Equities.com. Also, learn more about our independent proprietary equity research reports and our robust do-it-yourself Stock Valuation Analysis reports in our Research section.
All data provided by QuoteMedia and was accurate as of 4:30PM ET.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer