SSAB (OTCMKTS:SSAAY) Shares Gap Down – Here’s Why

Shares of SSAB (OTCMKTS:SSAAY) gapped down prior to trading on Tuesday . The stock had previously closed at $3.49, but opened at $3.31. SSAB shares last traded at $3.44, with a volume of 2,000 shares traded.

Wall Street Analysts Forecast Growth

Separately, Danske upgraded shares of SSAB from a “hold” rating to a “buy” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

SSAB Stock Down 1.4%

The company has a current ratio of 2.72, a quick ratio of 1.49 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average of $3.16 and a two-hundred day moving average of $3.08. The stock has a market capitalization of $6.86 billion, a PE ratio of 13.76 and a beta of 1.26.

SSAB (OTCMKTS:SSAAY) last announced its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.08 earnings per share (EPS) for the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.45%. The company had revenue of $2.41 billion for the quarter. Equities research analysts anticipate that SSAB will post 0.24 earnings per share for the current year.

About SSAB

SSAB AB (publ) produces and sells steel products in Sweden, Finland, Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and advanced high-strength steel products for steel and plate production.