Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Down – Should You Sell?

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $30.50, but opened at $27.05. Grupo Simec shares last traded at $27.05, with a volume of 278 shares traded.

Grupo Simec Stock Down 11.3%

The company’s fifty day moving average price is $29.66 and its 200 day moving average price is $30.18. The company has a market capitalization of $4.16 billion, a P/E ratio of 22.54 and a beta of 0.15.

Grupo Simec Company Profile

Grupo Simec (NYSE American: SIM) is a Mexico?based producer and distributor of long steel products, serving construction, infrastructure, industrial and energy markets. The company’s core operations encompass the manufacture of merchant bar steel, including reinforcing bar (rebar), wire rod, merchant bars and structural shapes. In parallel, its service centers offer cutting, bending and other value?added processing services to meet the precise specifications of fabricators and end users.

With multiple steel mills located throughout Mexico and an expanding footprint in the United States, Grupo Simec maintains a vertically integrated supply chain that spans raw?material sourcing, steelmaking and downstream processing.