SSAB (OTCMKTS:SSAAY) Sees Large Drop in Short Interest

SSAB (OTCMKTS:SSAAY) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 8 shares, a drop of 99.8% from the July 30th total of 3,287 shares. Based on an average daily volume of 1,477 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SSAAY shares. Dnb Carnegie lowered shares of SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a report on Tuesday, July 7th. Finally, Citigroup reaffirmed a “buy” rating on shares of SSAB in a research report on Monday, July 13th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SSAB currently has an average rating of “Moderate Buy”.

SSAB Stock Performance

OTCMKTS:SSAAY remained flat at $5.40 on Tuesday. 205 shares of the company’s stock traded hands, compared to its average volume of 894. The company has a current ratio of 2.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.10. The firm has a market cap of $10.76 billion, a PE ratio of 18.00 and a beta of 1.40. SSAB has a 52-week low of $2.83 and a 52-week high of $5.74. The firm’s 50-day simple moving average is $5.19 and its two-hundred day simple moving average is $4.74.

SSAB (OTCMKTS:SSAAY) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. The firm had revenue of $2.94 billion for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%. Equities research analysts predict that SSAB will post 0.39 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.