SSAB (OTCMKTS:SSAAY) Shares Gap Down – Here’s Why

Shares of SSAB (OTCMKTS:SSAAY) gapped down before the market opened on Friday . The stock had previously closed at $5.1650, but opened at $4.7870. SSAB shares last traded at $4.7870, with a volume of 123 shares traded.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of SSAB in a research report on Wednesday, May 20th. Morgan Stanley raised shares of SSAB from an “overweight” rating to an “overweight” rating in a research note on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Monday, April 13th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

SSAB Price Performance

The business has a 50-day moving average price of $4.89 and a two-hundred day moving average price of $4.37. 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 capitalization of $9.37 billion, a price-to-earnings ratio of 16.21 and a beta of 1.40.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter. The business had revenue of $2.77 billion during the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. As a group, research analysts anticipate that SSAB will post 0.38 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.