SSAB (OTCMKTS:SSAAY) Sees Unusually-High Trading Volume – Time to Buy?

SSAB (OTCMKTS:SSAAY) shares saw unusually-strong trading volume on Wednesday . Approximately 6,304 shares were traded during trading, an increase of 189% from the previous session’s volume of 2,183 shares.The stock last traded at $4.42 and had previously closed at $4.3150.

Analyst Ratings Changes

SSAAY has been the subject of a number of analyst reports. Citigroup reissued a “buy” rating on shares of SSAB in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Thursday, January 29th. Finally, Danske upgraded SSAB from a “hold” rating to a “buy” rating in a report on Thursday, October 23rd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, SSAB presently has an average rating of “Moderate Buy”.

SSAB Stock Performance

The stock’s 50 day moving average price is $4.00 and its 200 day moving average price is $3.44. The company has a current ratio of 2.48, a quick ratio of 1.30 and a debt-to-equity ratio of 0.10. The firm has a market cap of $8.57 billion, a PE ratio of 17.20 and a beta of 1.35.

SSAB (OTCMKTS:SSAAY) last announced its quarterly earnings results on Wednesday, January 28th. The basic materials company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). SSAB had a return on equity of 7.29% and a net margin of 5.10%.The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.76 billion. As a group, equities analysts forecast that SSAB will post 0.24 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.