SSAB (OTCMKTS:SSAAY) Sees Unusually-High Trading Volume – What’s Next?

SSAB (OTCMKTS:SSAAY) shares saw strong trading volume on Thursday . 6,411 shares traded hands during mid-day trading, an increase of 451% from the previous session’s volume of 1,163 shares.The stock last traded at $5.62 and had previously closed at $5.50.

Analyst Upgrades and Downgrades

SSAAY has been the subject of several recent research reports. Dnb Carnegie downgraded shares of SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research report on Tuesday, July 7th. Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a research report on Tuesday, July 28th. Finally, Citigroup reiterated a “buy” rating on shares of SSAB in a research note on Monday, July 13th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, SSAB has an average rating of “Moderate Buy”.

SSAB Stock Performance

The company has a market cap of $10.69 billion, a PE ratio of 17.87 and a beta of 1.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.43. The stock’s 50-day simple moving average is $5.11 and its 200 day simple moving average is $4.64.

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. SSAB had a net margin of 5.73% and a return on equity of 8.18%. The business had revenue of $2.94 billion for the quarter. As a group, equities analysts anticipate that SSAB will post 0.4 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.