SSAB (OTCMKTS:SSAAY) Sees Large Increase in Short Interest

SSAB (OTCMKTS:SSAAY) saw a large growth in short interest in July. As of July 31st, there was short interest totaling 3,287 shares, a growth of 61.7% from the July 15th total of 2,033 shares. Based on an average daily trading volume, of 617 shares, the days-to-cover ratio is currently 5.3 days. Currently, 0.0% of the shares of the stock are short sold.

SSAB Price Performance

Shares of SSAAY remained flat at $5.52 during mid-day trading on Monday. 261 shares of the stock traded hands, compared to its average volume of 884. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37. The company has a fifty day moving average of $5.14 and a 200-day moving average of $4.68. SSAB has a 12 month low of $2.83 and a 12 month high of $5.74. The company has a market cap of $11.00 billion, a PE ratio of 18.40 and a beta of 1.40.

SSAB (OTCMKTS:SSAAY) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 EPS for the quarter. The business had revenue of $2.94 billion during the quarter. SSAB had a net margin of 5.73% and a return on equity of 8.18%. As a group, equities analysts anticipate that SSAB will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SSAAY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Tuesday, July 7th. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note on Monday, July 13th. Dnb Carnegie downgraded SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley restated an “overweight” rating on shares of SSAB in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

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.