SSAB (OTCMKTS:SSAAY) Sees Unusually-High Trading Volume – Still a Buy?

SSAB (OTCMKTS:SSAAY) shares saw strong trading volume on Monday . 1,075 shares were traded during trading, an increase of 22% from the previous session’s volume of 883 shares.The stock last traded at $4.01 and had previously closed at $4.07.

Wall Street Analyst Weigh In

SSAAY has been the subject of several recent research reports. Danske upgraded SSAB from a “hold” rating to a “buy” rating in a research note on Thursday, October 23rd. Citigroup reiterated a “buy” rating on shares of SSAB in a research note on Friday, December 5th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

SSAB Trading Down 1.5%

The company has a market cap of $7.99 billion, a price-to-earnings ratio of 16.04 and a beta of 1.31. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $3.60 and its two-hundred day simple moving average is $3.25.

SSAB (OTCMKTS:SSAAY) last announced its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.08 EPS for the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.33%. The firm had revenue of $2.41 billion for the quarter. On average, equities analysts predict that SSAB will post 0.24 EPS for the current year.

SSAB Company Profile

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.