SSAB (OTCMKTS:SSAAY) Shares Shorted: Short Interest Down 53.8% in September

SSAB (OTCMKTS:SSAAY) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 92 shares, a decline of 53.8% from the August 31st total of 199 shares. Based on an average daily volume of 365 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the company’s stock are short sold.

SSAB Stock Performance

SSAB stock traded down $0.02 during trading hours on Wednesday, hitting $5.40. The stock had a trading volume of 407 shares, compared to its average volume of 264. The company has a market cap of $10.76 billion, a PE ratio of 18.00 and a beta of 1.42. The company has a quick ratio of 1.37, a current ratio of 2.43 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $5.42 and a two-hundred day moving average of $4.94. SSAB has a fifty-two week low of $3.00 and a fifty-two week high of $5.74.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on SSAAY. Dnb Carnegie downgraded shares of SSAB from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Citigroup reiterated a “buy” rating on shares of SSAB in a report on Tuesday, September 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research note on Friday, September 4th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, SSAB currently has an average rating of “Moderate Buy”.

SSAB Company Profile

SSAB AB is a Sweden-based steel company that develops and manufactures high-strength, specialty and conventional flat steel products. Its offerings include quenched and tempered steels, wear-resistant steels, automotive steels, structural steels and coated products used in construction, transportation, manufacturing, mining and other industrial applications.

The company markets products under brands including Hardox wear plate, Strenx performance steel, Docol automotive steel and GreenCoat color-coated products.