Short Interest in SSAB (OTCMKTS:SSAAY) Declines By 99.8%

SSAB (OTCMKTS:SSAAY) was the recipient of a large drop in short interest in August. As of August 14th, there was short interest totaling 8 shares, a drop of 99.8% from the July 30th total of 3,287 shares. Based on an average trading volume of 1,477 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

SSAB Trading Up 1.4%

Shares of SSAAY opened at $5.47 on Thursday. SSAB has a twelve month low of $2.83 and a twelve month high of $5.74. The firm has a market capitalization of $10.91 billion, a P/E ratio of 18.25 and a beta of 1.40. The company has a current ratio of 2.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $5.20 and its 200 day simple moving average is $4.76.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. The business had revenue of $2.94 billion for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%. On average, equities research analysts forecast that SSAB will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SSAAY. Dnb Carnegie lowered SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research report on Tuesday, July 7th. Citigroup reissued a “buy” rating on shares of SSAB in a research note on Monday, July 13th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of SSAB in a report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

SSAB Company Profile

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.