Gerdau S.A. (GGB) : Traders are bullish on Gerdau S.A. (GGB) as it has outperformed the S&P 500 by a wide margin of 41.59% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 12.66%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 13.14% in the last 1 week, and is up 45.11% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Gerdau S.A. (NYSE:GGB): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.59 and $2.56 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.67, notching a gain of 5.53% for the day. The total traded volume was 17,041,298 . The stock had closed at $2.53 on the previous day.
The stock has recorded a 20-day Moving Average of 22.98% and the 50-Day Moving Average is 40.76%. Gerdau S.A. is up 30.88% in the last 3-month period. Year-to-Date the stock performance stands at 122.5%.
Gerdau S.A. (GGB) : The most positive equity analysts on Gerdau S.A. (GGB) expects the shares to touch $6, whereas, the least positive believes that the stock will trade at $2 in the short term. The company is covered by 2 Wall Street Brokerage Firms. The average price target for shares are $3.95 with an expected fluctuation of $2.9 from the mean.
Gerdau S.A. (Gerdau) is a producer of long rolled steel. The Company operates in five segments: Brazil (Brazil Business Operation), which includes the steel operations in Brazil (except special steel) and the metallurgical and coking coal operation in Colombia; North America (North America Business Operation), which includes all North American operations, except Mexico and special steel; Latin America (Latin America Business Operation), which includes all Latin American operations, except the operations in Brazil and the metallurgical and coking coal operations in Colombia; Special Steel (Special Steel Business Operation), which includes the special steel operations in Brazil, Spain, the United States and India, and Iron Ore (Iron Ore Business Operation), which includes the iron ore operations in Brazil. The Companys mills are located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.