Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) Sees Large Drop in Short Interest

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 900 shares, a decline of 40.0% from the September 30th total of 1,500 shares. Based on an average trading volume of 700 shares, the days-to-cover ratio is currently 1.3 days.

Grupo Simec Stock Performance

Shares of Grupo Simec stock opened at $29.45 on Friday. The firm has a market capitalization of $4.54 billion, a PE ratio of 9.75 and a beta of 0.29. Grupo Simec has a 12 month low of $26.00 and a 12 month high of $34.29.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Grupo Simec from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Grupo Simec Company Profile

Grupo Simec, SAB. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and steel alloys products in Mexico, the United States, Brazil, Canada, Latin America, and internationally. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold-finished bars, electro-welded wire mesh and mesh panels, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products.