SSAB (OTCMKTS:SSAAY) Short Interest Update

SSAB (OTCMKTS:SSAAY) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 1,276 shares, an increase of 2,614.9% from the June 15th total of 47 shares. Based on an average daily trading volume, of 462 shares, the days-to-cover ratio is presently 2.8 days. Approximately 0.0% of the company’s shares are short sold.

SSAB Stock Performance

SSAAY stock remained flat at $4.83 during mid-day trading on Friday. 78 shares of the company’s stock traded hands, compared to its average volume of 222. 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 has a 52-week low of $2.80 and a 52-week high of $5.30. The business has a fifty day simple moving average of $4.95 and a 200 day simple moving average of $4.45. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 16.66 and a beta of 1.43.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a research report on Tuesday. Morgan Stanley restated an “overweight” rating on shares of SSAB in a research report on Monday, June 29th. Finally, Citigroup reiterated a “buy” rating on shares of SSAB in a report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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.