SSAB (OTCMKTS:SSAAY) Shares Gap Up – What’s Next?

SSAB (OTCMKTS:SSAAY) gapped up prior to trading on Wednesday . The stock had previously closed at $4.95, but opened at $5.29. SSAB shares last traded at $5.29, with a volume of 120 shares.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SSAAY. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note on Monday. Morgan Stanley restated an “overweight” rating on shares of SSAB in a research note on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research note on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

SSAB Trading Up 6.9%

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39. The business has a fifty day moving average of $4.96 and a 200-day moving average of $4.47. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 18.24 and a beta of 1.43.

SSAB (OTCMKTS:SSAAY) last issued 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 anticipate that SSAB will post 0.38 earnings per share for the current fiscal 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.