General Steel Holdings Reports Mixed Results (GSI)

General Steel Holdings GSI repoted mixed results yesterday. Revenues came in at $501.7 million, above consensus of $491.2 million. EPS was ($0.04), also above the Street at ($0.06). Hudson Securities analyst Julie Chen said, "Despite our understanding that General Steel has visibility into 70% of its forward 12 months revenues, we are staying on the sideline due to lack of visibility into commodity pricing which has created gross margin volatility industry-wide. However, we would become more constructive once we observe sustainable positive spread between ASP and COGS." Hudson Securities currently gives General Steel Holdings a Hold rating. Hudson does not give GSI a price target. Shares of GSI are trading at $3.15.