SSAB (OTCMKTS:SSAAY) Shares Gap Up – Time to Buy?

SSAB (OTCMKTS:SSAAY) gapped up before the market opened on Monday . The stock had previously closed at $3.45, but opened at $3.60. SSAB shares last traded at $3.60, with a volume of 100 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Danske raised shares of SSAB from a “hold” rating to a “buy” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, SSAB currently has a consensus rating of “Hold”.

SSAB Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.49. The stock has a market cap of $7.18 billion, a P/E ratio of 14.40 and a beta of 1.26. The stock has a 50-day simple moving average of $3.27 and a 200-day simple moving average of $3.10.

SSAB (OTCMKTS:SSAAY) last posted its earnings results on Wednesday, October 22nd. The basic materials company reported $0.08 EPS for the quarter. The firm had revenue of $2.41 billion during the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.45%. Research analysts forecast that SSAB will post 0.24 earnings per share for the current year.

SSAB Company Profile

SSAB AB (publ) produces and sells steel products in Sweden, Finland, Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and advanced high-strength steel products for steel and plate production.