SSAB (OTCMKTS:SSAAY) Short Interest Update

SSAB (OTCMKTS:SSAAY) saw a large increase in short interest in June. As of June 30th, there was short interest totaling 1,276 shares, an increase of 2,614.9% from the June 15th total of 47 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 462 shares, the days-to-cover ratio is currently 2.8 days.

SSAB Stock Performance

Shares of SSAAY stock remained flat at $4.83 on Friday. 277 shares of the company were exchanged, compared to its average volume of 222. The stock has a market cap of $9.63 billion, a P/E ratio of 16.66 and a beta of 1.43. The company’s fifty day moving average price is $4.95 and its 200 day moving average price is $4.45. 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 12-month low of $2.80 and a 12-month 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 company had revenue of $2.77 billion for the quarter. SSAB had a return on equity of 8.13% and a net margin of 5.59%. Equities research analysts forecast that SSAB will post 0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on SSAAY. Morgan Stanley restated an “overweight” rating on shares of SSAB in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a research note on Tuesday. Finally, Citigroup reiterated 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

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.