Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down – Time to Sell?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) shares gapped down prior to trading on Wednesday. The stock had previously closed at $17.3350, but opened at $15.83. Sims Metal Management shares last traded at $15.83, with a volume of 714 shares changing hands.

Wall Street Analysts Forecast Growth

SMSMY has been the topic of several recent analyst reports. Zacks Research raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Jefferies Financial Group raised Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Sims Metal Management Trading Down 9.3%

The business’s 50 day moving average price is $17.59 and its 200-day moving average price is $16.93. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.20.

Sims Metal Management Company Profile

Sims Metal Management, now known as Sims Limited, is a global metal recycling and resource recovery company. Its core business involves collecting, processing and supplying recycled ferrous and non-ferrous metals to steel mills, foundries and other industrial customers. The company handles materials such as steel, aluminum, copper and other recyclable metals sourced from businesses, manufacturers, demolition projects and end-of-life products.

Through its Sims Metal operations, the company provides scrap-metal collection, sorting, processing and recycling services.