Sims Metal Management Ltd. (OTCMKTS:SMSMY) Short Interest Down 58.3% in June

Sims Metal Management Ltd. (OTCMKTS:SMSMY) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 1,033 shares, a decrease of 58.3% from the June 15th total of 2,477 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 5,178 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Several brokerages have commented on SMSMY. Royal Bank Of Canada raised Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. Zacks Research upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Jefferies Financial Group raised shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Sims Metal Management has an average rating of “Hold”.

Sims Metal Management Stock Up 1.2%

Shares of SMSMY stock traded up $0.21 on Tuesday, reaching $17.51. 9,826 shares of the company were exchanged, compared to its average volume of 5,318. Sims Metal Management has a 1 year low of $8.16 and a 1 year high of $21.35. The business has a 50-day moving average price of $17.94 and a 200 day moving average price of $15.29.

Sims Metal Management Company Profile

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.