Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down – What’s Next?

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped down before the market opened on Tuesday . The stock had previously closed at $19.0050, but opened at $16.50. Sims Metal Management shares last traded at $16.75, with a volume of 4,661 shares traded.

Analysts Set New Price Targets

SMSMY has been the subject of a number of research analyst reports. Zacks Research raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Sims Metal Management Stock Performance

The company has a current ratio of 1.51, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $18.63 and a 200 day moving average price of $16.24.

About Sims Metal Management

Sims Metal Management, trading over-the-counter under the symbol SMSMY, is the global metal recycling division of Sims Limited. Established in the early 20th century, the company has grown into one of the world’s leading recyclers of ferrous and non-ferrous metals. It serves a diverse customer base, including steel mills, foundries, manufacturers and fabricators, by collecting, processing and trading scrap metal commodities.

The company’s core activities encompass the sourcing and processing of end-of-life metal products.