SSAB (OTCMKTS:SSAAY) Shares Gap Up – Here’s Why

SSAB (OTCMKTS:SSAAY) shares gapped up prior to trading on Monday . The stock had previously closed at $3.45, but opened at $3.60. SSAB shares last traded at $3.60, with a volume of 100 shares.

Analysts Set New Price Targets

Separately, Danske upgraded shares of SSAB from a “hold” rating to a “buy” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

SSAB Stock Performance

The company has a current ratio of 2.72, a quick ratio of 1.49 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $6.98 billion, a P/E ratio of 14.00 and a beta of 1.26. The business’s 50 day simple moving average is $3.29 and its two-hundred day simple moving average is $3.11.

SSAB (OTCMKTS:SSAAY) last issued its earnings results on Wednesday, October 22nd. The basic materials company reported $0.08 earnings per share (EPS) for the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.45%. The firm had revenue of $2.41 billion for the quarter. Sell-side analysts anticipate that SSAB will post 0.24 EPS for the current fiscal year.

SSAB Company Profile

SSAB AB (publ) produces and sells steel products in Sweden, Finland, Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and advanced high-strength steel products for steel and plate production.