Sims Metal Management Ltd. (OTCMKTS:SMSMY – Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 2,399 shares, an increase of 196.5% from the July 15th total of 809 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 4,583 shares, the days-to-cover ratio is presently 0.5 days.
Sims Metal Management Stock Up 2.7%
Shares of SMSMY traded up $0.49 during trading hours on Friday, hitting $19.00. 2,163 shares of the company were exchanged, compared to its average volume of 4,837. The firm’s 50 day moving average is $18.65 and its 200-day moving average is $16.18. Sims Metal Management has a 52 week low of $8.16 and a 52 week high of $21.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 1.51.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Zacks Research raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Jefferies Financial Group raised shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold”.
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.
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