SSAB (OTCMKTS:SSAAY) Short Interest Update

SSAB (OTCMKTS:SSAAY) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 199 shares, an increase of 2,387.5% from the August 15th total of 8 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 1,113 shares, the days-to-cover ratio is presently 0.2 days.

SSAB Price Performance

SSAB stock opened at $5.44 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37. The company has a market capitalization of $10.84 billion, a PE ratio of 18.13 and a beta of 1.42. SSAB has a one year low of $2.86 and a one year high of $5.74. The business has a 50 day simple moving average of $5.31 and a 200 day simple moving average of $4.85.

SSAB (OTCMKTS:SSAAY) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%.The firm had revenue of $2.94 billion for the quarter. On average, sell-side analysts forecast that SSAB will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SSAAY shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a report on Friday, September 4th. Dnb Carnegie downgraded shares of SSAB from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Morgan Stanley reiterated an “overweight” rating on shares of SSAB in a research report on Tuesday, July 28th. Finally, Citigroup reissued a “buy” rating on shares of SSAB in a research note on Monday, July 13th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

About SSAB

SSAB AB is a Sweden-based steel company that develops and produces high-strength, special, and conventional steel products for industrial customers worldwide. Its offerings include advanced high-strength steels, wear-resistant steels, quenched and tempered steels, structural steels, and color-coated products used in vehicles, construction equipment, infrastructure, energy, and other industrial applications.

The company operates through business areas including SSAB Special Steels, SSAB Europe, and SSAB Americas.