Sims Metal Management Ltd. (OTCMKTS:SMSMY) Short Interest Update

Sims Metal Management Ltd. (OTCMKTS:SMSMY) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 794 shares, a drop of 34.4% from the April 15th total of 1,211 shares. Based on an average trading volume of 8,866 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. The Goldman Sachs Group raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Royal Bank Of Canada raised Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Sims Metal Management Stock Performance

Sims Metal Management stock remained flat at $15.76 during mid-day trading on Monday. The company’s stock had a trading volume of 217 shares, compared to its average volume of 2,233. The company has a fifty day simple moving average of $14.09 and a 200-day simple moving average of $13.06. Sims Metal Management has a 12-month low of $8.16 and a 12-month high of $16.95.

About Sims Metal Management

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.