SSAB (OTCMKTS:SSAAY) Short Interest Up 61.7% in July

SSAB (OTCMKTS:SSAAY) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 3,287 shares, an increase of 61.7% from the July 15th total of 2,033 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 617 shares, the days-to-cover ratio is presently 5.3 days.

Wall Street Analysts Forecast Growth

SSAAY has been the topic of a number of recent research reports. Dnb Carnegie downgraded SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Morgan Stanley reissued an “overweight” rating on shares of SSAB in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research report on Tuesday, July 7th. Finally, Citigroup reaffirmed a “buy” rating on shares of SSAB in a report on Monday, July 13th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, SSAB currently has an average rating of “Moderate Buy”.

SSAB Price Performance

SSAB stock opened at $5.52 on Wednesday. SSAB has a 52 week low of $2.83 and a 52 week high of $5.74. The business’s fifty day moving average is $5.16 and its two-hundred day moving average is $4.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.37 and a current ratio of 2.43. The firm has a market cap of $11.00 billion, a P/E ratio of 18.40 and a beta of 1.40.

SSAB (OTCMKTS:SSAAY) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. The company had revenue of $2.94 billion during the quarter. SSAB had a net margin of 5.73% and a return on equity of 8.18%. Equities research analysts forecast that SSAB will post 0.39 earnings per share for the current fiscal year.

SSAB Company Profile

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.