Saab (OTCMKTS:SAABY) Shares Gap Down – Here’s Why

Shares of Saab AB – Unsponsored ADR (OTCMKTS:SAABY) gapped down prior to trading on Wednesday. The stock had previously closed at $32.23, but opened at $31.14. Saab shares last traded at $32.57, with a volume of 9,194 shares.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Kepler Capital Markets raised shares of Saab from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Royal Bank Of Canada raised Saab to a “hold” rating in a research report on Tuesday, August 11th. Barclays raised Saab from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, August 10th. Finally, Pareto Securities upgraded Saab from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Saab Stock Performance

The firm’s fifty day moving average price is $31.85 and its 200-day moving average price is $30.41. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 0.26. The firm has a market cap of $34.61 billion, a price-to-earnings ratio of 46.19 and a beta of -0.15.

About Saab

Saab AB is a Sweden-based defense and aerospace company that develops, manufactures and supports products and services for military and civil security customers. Its business includes combat aircraft, weapons systems, sensors, command-and-control solutions, training systems and naval platforms.

The company’s Aeronautics business produces the Gripen fighter aircraft and related systems, while its Surveillance operations provide airborne early-warning, radar, electronic-warfare and sensor technologies, including the GlobalEye system.