SSAB (OTCMKTS:SSAAY) Share Price Passes Above 50 Day Moving Average – Should You Sell?

SSAB (OTCMKTS:SSAAY) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.05 and traded as high as $5.2650. SSAB shares last traded at $5.2650, with a volume of 1,260 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SSAAY shares. Morgan Stanley restated an “overweight” rating on shares of SSAB in a research report on Tuesday. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note on Monday, July 13th. Dnb Carnegie cut shares of SSAB from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research note on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

SSAB Stock Performance

The stock’s 50 day moving average is $5.06 and its two-hundred day moving average is $4.58. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 17.17 and a beta of 1.43. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $2.94 billion for the quarter. SSAB had a return on equity of 8.52% and a net margin of 5.73%. Analysts expect that SSAB will post 0.4 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.