Sims Metal Management Ltd. (OTCMKTS:SMSMY) Sees Significant Increase in Short Interest

Sims Metal Management Ltd. (OTCMKTS:SMSMY) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 1,685 shares, an increase of 149.6% from the August 31st total of 675 shares. Based on an average daily volume of 2,206 shares, the short-interest ratio is presently 0.8 days. Currently, 0.0% of the company’s stock are short sold.

Sims Metal Management Stock Down 3.1%

SMSMY stock traded down $0.54 on Friday, hitting $16.90. The company had a trading volume of 1,050 shares, compared to its average volume of 1,493. Sims Metal Management has a 12-month low of $8.54 and a 12-month high of $21.35. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The stock’s 50-day simple moving average is $17.71 and its 200 day simple moving average is $16.73.

Analyst Ratings Changes

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

Sims Metal Management Company Profile

Sims Metal Management, now known as Sims Limited, is a global metal recycling company headquartered in Sydney, Australia. The company collects, processes and trades recycled ferrous and non-ferrous metals, including steel, aluminum, copper and other recovered materials, which are supplied to manufacturers, steel mills and foundries.

Its operations include metal collection and processing, recycling of end-of-life vehicles and industrial equipment, and the recovery of metals from commercial, construction and demolition sources.