SSAB (OTCMKTS:SSAAY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of SSAB (OTCMKTS:SSAAY) saw strong trading volume on Wednesday . 61,000 shares were traded during trading, an increase of 2,223% from the previous session’s volume of 2,626 shares.The stock last traded at $3.75 and had previously closed at $3.70.

Analyst Ratings Changes

SSAAY has been the topic of several research reports. Danske upgraded shares of SSAB from a “hold” rating to a “buy” rating in a research note on Thursday, October 23rd. Citigroup reiterated a “buy” rating on shares of SSAB in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, SSAB currently has an average rating of “Moderate Buy”.

SSAB Stock Performance

The company has a market cap of $7.47 billion, a P/E ratio of 15.00 and a beta of 1.33. 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 has a 50 day moving average price of $3.36 and a 200-day moving average price of $3.13.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.08 earnings per share for the quarter. The business had revenue of $2.41 billion during the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.33%. Equities analysts expect that SSAB will post 0.24 EPS for the current fiscal year.

SSAB Company Profile

SSAB AB (publ) produces and sells steel products in Sweden, Finland, Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and advanced high-strength steel products for steel and plate production.