Sims Metal Management Ltd. (OTCMKTS:SMSMY) Short Interest Down 87.9% in August

Sims Metal Management Ltd. (OTCMKTS:SMSMY) saw a significant decrease in short interest in August. As of August 14th, there was short interest totaling 291 shares, a decrease of 87.9% from the July 30th total of 2,399 shares. Based on an average trading volume of 1,401 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Sims Metal Management Price Performance

Shares of SMSMY opened at $17.66 on Wednesday. The business’s 50 day moving average is $18.24 and its two-hundred day moving average is $16.34. Sims Metal Management has a 52-week low of $8.16 and a 52-week high of $21.35. The company has a quick ratio of 0.95, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Jefferies Financial Group raised shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, June 17th. Zacks Research upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Sims Metal Management Company Profile

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.