SSAB (OTCMKTS:SSAAY) Shares Up 10.6% – Time to Buy?

Shares of SSAB (OTCMKTS:SSAAY) were up 10.6% during trading on Wednesday . The stock traded as high as $4.4250 and last traded at $4.4250. Approximately 1,500 shares were traded during trading, a decline of 22% from the average daily volume of 1,918 shares. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

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

SSAB Stock Up 5.4%

The company’s 50 day moving average price is $4.20 and its two-hundred day moving average price is $3.78. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10. The firm has a market cap of $8.82 billion, a PE ratio of 17.70 and a beta of 1.36.

SSAB (OTCMKTS:SSAAY) last announced its earnings results on Wednesday, January 28th. The basic materials company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.76 billion. SSAB had a return on equity of 7.29% and a net margin of 5.10%. On average, equities research analysts expect that SSAB will post 0.24 EPS for the current fiscal 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.