Short Interest in Sims Metal Management Ltd. (OTCMKTS:SMSMY) Grows By 132.0%

Sims Metal Management Ltd. (OTCMKTS:SMSMY) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 675 shares, a growth of 132.0% from the August 15th total of 291 shares. Based on an average daily volume of 5,228 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Sims Metal Management Stock Performance

Shares of OTCMKTS:SMSMY opened at $17.06 on Monday. The company has a 50 day moving average price of $17.77 and a two-hundred day moving average price of $16.58. The company has a quick ratio of 0.95, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Sims Metal Management has a 52 week low of $8.16 and a 52 week high of $21.35.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SMSMY shares. Jefferies Financial Group upgraded Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. Zacks Research upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Sims Metal Management presently has a consensus rating of “Hold”.

Sims Metal Management Company Profile

Sims Metal Management, now known as Sims Limited, is a global metal recycling company headquartered in Sydney, Australia. The company collects, processes and trades recycled ferrous and non-ferrous metals, including steel, aluminum, copper and other recovered materials, which are supplied to manufacturers, steel mills and foundries.

Its operations include metal collection and processing, recycling of end-of-life vehicles and industrial equipment, and the recovery of metals from commercial, construction and demolition sources.