Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down – Time to Sell?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped down before the market opened on Wednesday. The stock had previously closed at $17.3350, but opened at $15.83. Sims Metal Management shares last traded at $15.83, with a volume of 714 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMSMY. Zacks Research upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Sims Metal Management Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.53 and a quick ratio of 1.00. The company has a 50-day moving average price of $17.59 and a 200 day moving average price of $16.93.

Sims Metal Management Company Profile

Sims Metal Management, now known as Sims Limited, is a global metal recycling and resource recovery company. Its core business involves collecting, processing and supplying recycled ferrous and non-ferrous metals to steel mills, foundries and other industrial customers. The company handles materials such as steel, aluminum, copper and other recyclable metals sourced from businesses, manufacturers, demolition projects and end-of-life products.

Through its Sims Metal operations, the company provides scrap-metal collection, sorting, processing and recycling services.