Universal Stainless & Alloy Products, Inc.’ (USAP) shares have appreciated 48.5% in the past three months. The company also outperformed the industry’s fall of 7.5% and topped the S&P 500’s nearly 3.1% rise over the same period.Image Source: Zacks Investment ResearchLet’s take a look at the factors driving the stock’s price appreciation.What’s Driving Universal Stainless?In first-quarter 2024, USAP demonstrated robust performance, marking a notable turnaround from the previous year's figures. The company po ...