SSAB (OTCMKTS:SSAAY) Shares Gap Down – Should You Sell?

SSAB (OTCMKTS:SSAAY) gapped down prior to trading on Friday . The stock had previously closed at $5.1650, but opened at $4.7870. SSAB shares last traded at $4.7870, with a volume of 123 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup reissued a “buy” rating on shares of SSAB in a report on Wednesday, May 20th. Morgan Stanley raised SSAB from an “overweight” rating to an “overweight” rating in a research report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research note on Monday, April 13th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, SSAB has an average rating of “Moderate Buy”.

SSAB Stock Down 9.0%

The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $9.37 billion, a P/E ratio of 16.21 and a beta of 1.40. The stock’s 50-day simple moving average is $4.89 and its 200-day simple moving average is $4.37.

SSAB (OTCMKTS:SSAAY) last posted its earnings results on Tuesday, April 28th. The basic materials company reported $0.09 EPS for the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. The firm had revenue of $2.77 billion for the quarter. As a group, research analysts predict that SSAB will post 0.38 earnings per share for the current fiscal year.

SSAB Company Profile

SSAB (OTCMKTS:SSAAY) is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB’s key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden’s state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.