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

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $17.01, but opened at $17.80. Sims Metal Management shares last traded at $17.80, with a volume of 520 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SMSMY shares. Zacks Research upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Sims Metal Management currently has a consensus rating of “Hold”.

Sims Metal Management Price Performance

The stock’s 50-day moving average price is $18.37 and its 200-day moving average price is $15.61.

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.