SSAB (OTCMKTS:SSAAY) Sees Unusually-High Trading Volume – What’s Next?

Shares of SSAB (OTCMKTS:SSAAY) saw unusually-strong trading volume on Monday . 1,000 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 1,279 shares.The stock last traded at $4.95 and had previously closed at $4.98.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating on shares of SSAB in a research note on Monday, June 29th. Citigroup reiterated a “buy” rating on shares of SSAB in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a research report on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

SSAB Stock Performance

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 stock’s 50 day moving average price is $4.96 and its 200 day moving average price is $4.47. The company has a market capitalization of $9.87 billion, a P/E ratio of 17.07 and a beta of 1.43.

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

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.