Tree Island Steel (TSL) Trading Up 2.9%
Tree Island Steel Ltd. (TSE:TSL) was up 2.9% during mid-day trading on Monday . The stock traded as high as C$2.53 and last traded at C$2.47. Approximately 110,950 shares were traded during mid-day trading, an increase of 251% from the average daily volume of 31,640 shares. The stock had previously closed at C$2.40.
Several equities research analysts recently issued reports on TSL shares. Pi Financial reduced their price objective on shares of Tree Island Steel from C$5.00 to C$3.25 in a research note on Friday, November 3rd. Canaccord Genuity dropped their target price on shares of Tree Island Steel from C$3.75 to C$3.25 in a report on Friday, November 3rd. Finally, Raymond James Financial dropped their target price on shares of Tree Island Steel from C$4.00 to C$3.00 and set a “market perform” rating on the stock in a report on Friday, November 3rd.
In other news, insider Island Steel Ltd. (Former Tree bought 65,600 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were purchased at an average price of C$3.10 per share, for a total transaction of C$203,360.00.
About Tree Island Steel
Tree Island Steel Ltd. manufactures and sells steel wire and wire products for industrial, construction, agricultural, and specialty applications in Canada, the United States, and internationally. It offers residential products, including bulk nails, collated nails, packaged nails and fasteners, bulk screws, and packaged nails and fasteners, as well as nail head identification systems; and woven wires, welded wires, and corners and accessories.
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