SSAB (OTCMKTS:SSAAY) Shares Gap Down – Time to Sell?

SSAB (OTCMKTS:SSAAY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $4.53, but opened at $4.25. SSAB shares last traded at $4.25, with a volume of 950 shares.

Analysts Set New Price Targets

SSAAY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a research note on Thursday, January 29th. Citigroup reiterated a “buy” rating on shares of SSAB in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

SSAB Trading Down 6.2%

The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 17.00 and a beta of 1.33. The business’s 50-day moving average price is $4.17 and its 200 day moving average price is $3.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings results on Wednesday, January 28th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.76 billion. SSAB had a return on equity of 7.29% and a net margin of 5.10%. On average, equities analysts forecast that SSAB will post 0.24 earnings per share for the current fiscal 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.