SSAB (OTCMKTS:SSAAY) Short Interest Up 2,387.5% in August

SSAB (OTCMKTS:SSAAY) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 199 shares, an increase of 2,387.5% from the August 15th total of 8 shares. Based on an average daily volume of 1,113 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SSAAY shares. Citigroup reissued a “buy” rating on shares of SSAB in a research note on Monday, July 13th. Dnb Carnegie lowered SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Morgan Stanley restated an “overweight” rating on shares of SSAB in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research report on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, SSAB presently has a consensus rating of “Moderate Buy”.

SSAB Price Performance

Shares of OTCMKTS:SSAAY remained flat at $5.44 during midday trading on Thursday. 103 shares of the stock traded hands, compared to its average volume of 419. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37. The stock’s 50 day simple moving average is $5.28 and its 200 day simple moving average is $4.83. The stock has a market cap of $10.84 billion, a PE ratio of 18.13 and a beta of 1.42. SSAB has a 52-week low of $2.86 and a 52-week high of $5.74.

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

SSAB Company Profile

SSAB AB is a Sweden-based steel company that develops and produces high-strength, special, and conventional steel products for industrial customers worldwide. Its offerings include advanced high-strength steels, wear-resistant steels, quenched and tempered steels, structural steels, and color-coated products used in vehicles, construction equipment, infrastructure, energy, and other industrial applications.

The company operates through business areas including SSAB Special Steels, SSAB Europe, and SSAB Americas.