SSAB (OTCMKTS:SSAAY) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of SSAB (OTCMKTS:SSAAY) saw unusually-high trading volume on Wednesday . Approximately 3,142 shares changed hands during mid-day trading, an increase of 109% from the previous session’s volume of 1,500 shares.The stock last traded at $4.13 and had previously closed at $4.0880.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup reissued a “buy” rating on shares of SSAB in a research report on Friday, December 5th. Danske raised SSAB from a “hold” rating to a “buy” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, SSAB has a consensus rating of “Moderate Buy”.

SSAB Price Performance

The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $3.72 and its 200 day moving average is $3.30. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 16.52 and a beta of 1.31.

SSAB (OTCMKTS:SSAAY) last announced its earnings results on Wednesday, October 22nd. The basic materials company reported $0.08 earnings per share (EPS) for the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.33%. The firm had revenue of $2.41 billion for the quarter. On average, equities research analysts anticipate that SSAB will post 0.24 earnings per share for the current fiscal year.

About SSAB

SSAB (OTCMKTS:SSAAY) is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB’s key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden’s state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.