SSAB (OTCMKTS:SSAAY) Short Interest Up 2,387.5% in August

SSAB (OTCMKTS:SSAAY) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 199 shares, an increase of 2,387.5% from the August 15th total of 8 shares. Based on an average daily trading volume, of 1,113 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SSAAY. Dnb Carnegie cut shares of SSAB from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Citigroup reissued a “buy” rating on shares of SSAB in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a report on Friday, September 4th. Finally, Morgan Stanley reissued an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, SSAB has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

Shares of OTCMKTS SSAAY opened at $5.44 on Friday. SSAB has a fifty-two week low of $2.86 and a fifty-two week high of $5.74. 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 firm has a market capitalization of $10.84 billion, a P/E ratio of 18.13 and a beta of 1.42. The company’s 50 day simple moving average is $5.30 and its 200 day simple moving average is $4.84.

SSAB (OTCMKTS:SSAAY) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.11 EPS for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%.The business had revenue of $2.94 billion during the quarter. On average, analysts predict that SSAB will post 0.39 EPS for the current year.

About SSAB

SSAB AB is a Sweden-based steel company that develops and produces high-strength, special, and conventional steel products for industrial customers worldwide. Its offerings include advanced high-strength steels, wear-resistant steels, quenched and tempered steels, structural steels, and color-coated products used in vehicles, construction equipment, infrastructure, energy, and other industrial applications.

The company operates through business areas including SSAB Special Steels, SSAB Europe, and SSAB Americas.