Sims Metal Management (OTCMKTS:SMSMY) Sees Strong Trading Volume – Time to Buy?

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) saw an uptick in trading volume on Friday . Approximately 13,289 shares were traded during mid-day trading, an increase of 160% from the previous session’s volume of 5,105 shares.The stock last traded at $17.53 and had previously closed at $18.5050.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SMSMY shares. Zacks Research upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group raised Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Sims Metal Management currently has a consensus rating of “Hold”.

Sims Metal Management Stock Performance

The company has a quick ratio of 0.95, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $18.54 and a 200 day moving average price of $15.79.

About Sims Metal Management

Sims Metal Management, trading over-the-counter under the symbol SMSMY, is the global metal recycling division of Sims Limited. Established in the early 20th century, the company has grown into one of the world’s leading recyclers of ferrous and non-ferrous metals. It serves a diverse customer base, including steel mills, foundries, manufacturers and fabricators, by collecting, processing and trading scrap metal commodities.

The company’s core activities encompass the sourcing and processing of end-of-life metal products.