Hudson Securities Maintains Hold On General Steel Holdings (GSI)

Hudson Securities is reiterating its Hold rating on shares of General Steel Holdings, Inc. GSI. In the research note, Hudson writes, "We are maintaining our Hold recommendation for the common shares of General Steel Holdings (GSI). With a reported gross margin of 3.5% from 1.3% in 2Q2010 and a clear visibility into 70% of its forward 12 months revenues, we continue to stay on the sideline. However, we would become constructive once we observe ‘sustainable' positive spread between ASP and COGS to drive bottom line profitability." Shares of GSI are down 25 cents this morning to $2.71, a loss of 8.5%.