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

by · The Cerbat Gem

SSAB (OTCMKTS:SSAAY – Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 199 shares, a growth of 2,387.5% from the August 15th total of 8 shares. Based on an average daily volume of 1,113 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company’s shares are sold short.

SSAB Stock Performance

Shares of SSAB stock remained flat at $5.44 during trading on Thursday. 103 shares of the company 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 business’s 50 day moving average price is $5.28 and its two-hundred day moving average price is $4.83. The firm has a market capitalization of $10.84 billion, a P/E 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 – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.11 EPS for the quarter. The business had revenue of $2.94 billion for the quarter. SSAB had a net margin of 5.73% and a return on equity of 8.18%. As a group, analysts predict that SSAB will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SSAAY. Dnb Carnegie cut shares of SSAB from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research report on Friday, September 4th. Citigroup reiterated a “buy” rating on shares of SSAB in a report on Monday, July 13th. Finally, Morgan Stanley restated an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Get Our Latest Stock Report on SSAAY

SSAB Company Profile

(Get Free Report)

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.

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