Short Interest in SSAB (OTCMKTS:SSAAY) Increases By 7,064.3%

SSAB (OTCMKTS:SSAAY) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 1,003 shares, an increase of 7,064.3% from the April 30th total of 14 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 669 shares, the days-to-cover ratio is currently 1.5 days.

Analysts Set New Price Targets

SSAAY has been the topic of several recent research reports. Morgan Stanley raised shares of SSAB from an “overweight” rating to an “overweight” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a research report on Monday, April 13th. Finally, Citigroup reaffirmed a “buy” rating on shares of SSAB in a report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

SSAB Stock Performance

SSAAY traded up $0.26 during trading on Wednesday, reaching $5.08. 110 shares of the company’s stock were exchanged, compared to its average volume of 1,528. SSAB has a fifty-two week low of $2.80 and a fifty-two week high of $5.08. The company has a quick ratio of 1.39, a current ratio of 2.48 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $4.41 and a 200 day moving average price of $4.10. The company has a market capitalization of $10.13 billion, a P/E ratio of 17.53 and a beta of 1.39.

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

SSAB Company Profile

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.