SSAB (OTCMKTS:SSAAY) Shares Down 10.6% – What’s Next?

Shares of SSAB (OTCMKTS:SSAAY) traded down 10.6% during mid-day trading on Tuesday . The stock traded as low as $4.05 and last traded at $4.05. 1,009 shares were traded during mid-day trading, a decline of 50% from the average session volume of 2,036 shares. The stock had previously closed at $4.53.

Analyst Ratings Changes

SSAAY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a report 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 given a Hold rating to the stock. According to MarketBeat, SSAB currently has an average rating of “Moderate Buy”.

SSAB Stock Performance

The firm has a market cap of $8.30 billion, a P/E ratio of 16.66 and a beta of 1.33. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48. The business’s 50-day simple moving average is $4.20 and its 200 day simple moving average is $3.61.

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