Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up – What’s Next?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $26.70, but opened at $27.62. Grupo Simec shares last traded at $26.93, with a volume of 1,159 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered Grupo Simec from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th.

Grupo Simec Stock Up 0.9%

The stock’s 50 day moving average is $26.70. The stock has a market capitalization of $4.14 billion, a PE ratio of 7.97 and a beta of 0.29.

Institutional Investors Weigh In On Grupo Simec

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. acquired a new stake in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. 0.17% of the stock is owned by institutional investors.

Grupo Simec Company Profile

Grupo Simec, SAB. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and steel alloys products in Mexico, the United States, Brazil, Canada, Latin America, and internationally. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold-finished bars, electro-welded wire mesh and mesh panels, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products.