SSAB (OTCMKTS:SSAAY) Short Interest Down 99.8% in August

SSAB (OTCMKTS:SSAAY – Get Free Report) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 8 shares, a decrease of 99.8% from the July 30th total of 3,287 shares. Based on an average daily volume of 1,477 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Dnb Carnegie downgraded shares of SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a report on Tuesday, July 7th. Finally, Morgan Stanley reissued an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

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SSAB Stock Performance

Shares of OTCMKTS:SSAAY opened at $5.40 on Wednesday. The firm’s 50 day simple moving average is $5.19 and its 200 day simple moving average is $4.75. SSAB has a fifty-two week low of $2.83 and a fifty-two week high of $5.74. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 18.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37.

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

About SSAB

(Get Free Report)

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.

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