Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down – What’s Next?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped down before the market opened on Monday . The stock had previously closed at $20.5750, but opened at $19.20. Sims Metal Management shares last traded at $19.20, with a volume of 4,830 shares changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on SMSMY. The Goldman Sachs Group upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. Zacks Research cut Sims Metal Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, Royal Bank Of Canada raised shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Sims Metal Management Stock Down 6.7%

The company’s fifty day moving average is $16.63 and its 200 day moving average is $14.55.

Sims Metal Management Company Profile

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.