Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down – What’s Next?

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $20.64, but opened at $19.69. Sims Metal Management shares last traded at $20.65, with a volume of 1,006 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada upgraded shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, March 18th. Zacks Research downgraded shares of Sims Metal Management from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, The Goldman Sachs Group upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Sims Metal Management Price Performance

The firm has a 50-day moving average price of $16.03 and a 200 day moving average price of $14.28.

About Sims Metal Management

Sims Metal Management, trading over-the-counter under the symbol SMSMY, is the global metal recycling division of Sims Limited. Established in the early 20th century, the company has grown into one of the world’s leading recyclers of ferrous and non-ferrous metals. It serves a diverse customer base, including steel mills, foundries, manufacturers and fabricators, by collecting, processing and trading scrap metal commodities.

The company’s core activities encompass the sourcing and processing of end-of-life metal products.