SSAB (OTCMKTS:SSAAY) Short Interest Update

SSAB (OTCMKTS:SSAAY) saw a large decline in short interest in June. As of June 15th, there was short interest totaling 47 shares, a decline of 95.4% from the May 31st total of 1,013 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 830 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SSAAY shares. Morgan Stanley upgraded shares of SSAB from an “overweight” rating to an “overweight” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Monday, April 13th. Finally, Citigroup reissued a “buy” rating on shares of SSAB in a report on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

SSAB Price Performance

Shares of SSAB stock traded down $0.38 during trading hours on Friday, reaching $4.79. 123 shares of the company’s stock were exchanged, compared to its average volume of 1,352. The business has a fifty day moving average of $4.89 and a two-hundred day moving average of $4.37. The company has a market capitalization of $9.54 billion, a P/E ratio of 16.51 and a beta of 1.40. The company has a quick ratio of 1.39, a current ratio of 2.48 and a debt-to-equity ratio of 0.10. SSAB has a 1 year low of $2.80 and a 1 year high of $5.30.

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

About SSAB

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.