Short Interest in Sims Metal Management Ltd. (OTCMKTS:SMSMY) Drops By 34.4%

Sims Metal Management Ltd. (OTCMKTS:SMSMY) was the recipient of a large decline in short interest in April. As of April 30th, there was short interest totaling 794 shares, a decline of 34.4% from the April 15th total of 1,211 shares. Based on an average daily trading volume, of 8,866 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Royal Bank Of Canada upgraded Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, March 18th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Sims Metal Management presently has an average rating of “Moderate Buy”.

Sims Metal Management Stock Performance

Shares of OTCMKTS:SMSMY remained flat at $15.76 during trading on Monday. 217 shares of the stock were exchanged, compared to its average volume of 2,233. The stock has a 50 day moving average of $14.09 and a 200-day moving average of $13.06. Sims Metal Management has a twelve month low of $8.16 and a twelve month high of $16.95.

About Sims Metal Management

Sims Metal Management, trading over-the-counter under the symbol SMSMY, is the global metal recycling division of Sims Limited. Established in the early 20th century, the company has grown into one of the world’s leading recyclers of ferrous and non-ferrous metals. It serves a diverse customer base, including steel mills, foundries, manufacturers and fabricators, by collecting, processing and trading scrap metal commodities.

The company’s core activities encompass the sourcing and processing of end-of-life metal products.