AK Steel Holding Corporation (NYSE:AKS) stock trading high


Dallas, Texas 07/17/2013 (Financialstrend) – Shares of AK Steel Holding Corporation (NYSE:AKS) had stopped shedding prices recently with gains of around 10.96% recorded in the past five days of trading. Despite lowering of target prices for the company’s share to around $3 per share by researchers and downgrading of the stock to an average neutral rating, AKS had managed to present encouraging returns to the investors in the recent days.

The recent downgrading of rating to the stock of AKS had primarily been attributed to the increased demand for put option on the stock in the past two weeks. However, there had been fundamental developments in the company which had enabled to attract investor attention to its stock. Recently in June 2013, AKS had been awarded with the Best Mergers & Acquisitions from the American Metal Market which recognizes the effectiveness of the company in ensuring continuous expansion and progress in its operations. Such strategic expansions and developments being made in the company’s progress had sent strong positive signals to attract the investors to its stock.

Shares of AK Steel Holding Corporation opened at $3.33 per share on Tuesday and thereafter increased by 1.52% to close at $3.34 for the day. There had been intraday price movements in the stock within the range of $3.26 as low price to $3.37 as high price. The stock has 52 week low at $2.76 and 52 week high at $6.73 per share. The company has 136.31 million shares outstanding in the market which gives it a market cap of $455.28 million and there is institutional ownership in the capital at 51% of the stock. AKS witnessed the trade of 3.22 million shares on Tuesday, while the average level is at 5.22 million shares per day.