SSAB (OTCMKTS:SSAAY) Sees Strong Trading Volume – Still a Buy?

SSAB (OTCMKTS:SSAAY) saw unusually-high trading volume on Thursday . Approximately 6,411 shares traded hands during trading, an increase of 451% from the previous session’s volume of 1,163 shares.The stock last traded at $5.62 and had previously closed at $5.50.

Analyst Upgrades and Downgrades

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

SSAB Stock Up 2.2%

The company has a market capitalization of $11.20 billion, a PE ratio of 18.73 and a beta of 1.40. The firm has a fifty day simple moving average of $5.10 and a 200-day simple moving average of $4.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48.

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