Short Interest in SSAB (OTCMKTS:SSAAY) Increases By 7,064.3%

SSAB (OTCMKTS:SSAAY) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 1,003 shares, a growth of 7,064.3% from the April 30th total of 14 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 669 shares, the days-to-cover ratio is presently 1.5 days.

SSAB Stock Performance

Shares of OTCMKTS:SSAAY traded up $0.26 during trading on Wednesday, reaching $5.08. 110 shares of the company’s stock traded hands, compared to its average volume of 1,528. 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 has a 12 month low of $2.80 and a 12 month high of $5.08. The company has a 50 day moving average of $4.41 and a 200-day moving average of $4.10. The stock has a market capitalization of $10.13 billion, a P/E ratio of 17.53 and a beta of 1.39.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.09 EPS for the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. The business had revenue of $2.77 billion during the quarter. On average, equities analysts expect that SSAB will post 0.38 EPS for the current year.

Analyst Upgrades and Downgrades

SSAAY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research note on Monday, April 13th. Citigroup reissued a “buy” rating on shares of SSAB in a research report on Wednesday, May 20th. Finally, Morgan Stanley raised shares of SSAB from an “overweight” rating to an “overweight” rating in a research report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, SSAB has an average rating of “Moderate Buy”.

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.