SSAB (OTCMKTS:SSAAY) Short Interest Update

SSAB (OTCMKTS:SSAAY) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 3,287 shares, a growth of 61.7% from the July 15th total of 2,033 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 617 shares, the days-to-cover ratio is currently 5.3 days.

SSAB Stock Performance

Shares of OTCMKTS SSAAY opened at $5.52 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37. SSAB has a one year low of $2.83 and a one year high of $5.74. The business’s 50-day moving average price is $5.15 and its two-hundred day moving average price is $4.69. The company has a market capitalization of $11.00 billion, a P/E ratio of 18.40 and a beta of 1.40.

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

Wall Street Analyst Weigh In

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

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.