SSAB (OTCMKTS:SSAAY) Short Interest Update

SSAB (OTCMKTS:SSAAY) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 47 shares, a decline of 95.4% from the May 31st total of 1,013 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 830 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Several research firms have commented on SSAAY. Morgan Stanley raised shares of SSAB from an “overweight” rating to an “overweight” rating in a research note on Tuesday, May 5th. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Monday, April 13th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

SSAB Price Performance

SSAAY stock remained flat at $5.17 during mid-day trading on Thursday. 8 shares of the company’s stock were exchanged, compared to its average volume of 242. SSAB has a one year low of $2.80 and a one year high of $5.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 17.81 and a beta of 1.40. The stock has a 50 day simple moving average of $4.87 and a 200-day simple moving average of $4.36.

SSAB (OTCMKTS:SSAAY) last issued its earnings results on Tuesday, April 28th. The basic materials company reported $0.09 EPS for the quarter. The business had revenue of $2.77 billion during the quarter. SSAB had a return on equity of 8.13% and a net margin of 5.59%. On average, equities research analysts anticipate that SSAB will post 0.38 EPS 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.