SSAB (OTCMKTS:SSAAY) Shares Gap Down – Time to Sell?

Shares of SSAB (OTCMKTS:SSAAY) gapped down before the market opened on Monday . The stock had previously closed at $4.25, but opened at $3.67. SSAB shares last traded at $3.67, with a volume of 2,009 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SSAAY. Citigroup reiterated a “buy” rating on shares of SSAB in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

SSAB Stock Performance

The company’s 50-day moving average is $4.25 and its two-hundred day moving average is $3.69. The company has a quick ratio of 1.39, a current ratio of 2.48 and a debt-to-equity ratio of 0.10. The company has a market cap of $7.32 billion, a P/E ratio of 14.68 and a beta of 1.33.

SSAB (OTCMKTS:SSAAY) last released its 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 net margin of 5.10% and a return on equity of 7.29%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.76 billion. Equities analysts predict that SSAB will post 0.24 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.