SSAB (OTCMKTS:SSAAY) Sees Large Drop in Short Interest

SSAB (OTCMKTS:SSAAY) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 8 shares, a decrease of 99.8% from the July 30th total of 3,287 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,477 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Dnb Carnegie lowered shares of SSAB from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Citigroup reissued a “buy” rating on shares of SSAB in a research report on Monday, July 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a research note on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

SSAB Price Performance

SSAB stock remained flat at $5.40 during midday trading on Tuesday. The company had a trading volume of 205 shares, compared to its average volume of 894. SSAB has a fifty-two week low of $2.83 and a fifty-two week high of $5.74. The business has a 50 day moving average of $5.19 and a 200-day moving average of $4.74. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 18.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37.

SSAB (OTCMKTS:SSAAY) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. The firm had revenue of $2.94 billion during the quarter. SSAB had a net margin of 5.73% and a return on equity of 8.18%. Equities research analysts expect that SSAB will post 0.39 EPS for the current 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.