SSAB (OTCMKTS:SSAAY) Short Interest Up 7,064.3% in May

SSAB (OTCMKTS:SSAAY) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 1,003 shares, an increase of 7,064.3% from the April 30th total of 14 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily volume of 669 shares, the short-interest ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SSAAY. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note 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 reissued a “hold” rating on shares of SSAB in a research note on Monday, April 13th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

SSAB Stock Performance

Shares of SSAAY stock opened at $5.06 on Friday. The company’s fifty day simple moving average is $4.45 and its 200-day simple moving average is $4.13. SSAB has a 52 week low of $2.80 and a 52 week high of $5.08. 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 company has a market cap of $10.08 billion, a PE ratio of 17.44 and a beta of 1.39.

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

About SSAB

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.