Short Interest in Sims Metal Management Ltd. (OTCMKTS:SMSMY) Declines By 34.4%

Sims Metal Management Ltd. (OTCMKTS:SMSMY) was the recipient of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 794 shares, a decrease of 34.4% from the April 15th total of 1,211 shares. Based on an average trading volume of 8,866 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank Of Canada upgraded Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, March 18th. The Goldman Sachs Group upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Sims Metal Management presently has a consensus rating of “Moderate Buy”.

Sims Metal Management Price Performance

OTCMKTS SMSMY opened at $16.10 on Tuesday. The company’s 50 day moving average is $14.13 and its 200-day moving average is $13.10. Sims Metal Management has a 12-month low of $8.16 and a 12-month high of $16.95.

About Sims Metal Management

Sims Metal Management, trading over-the-counter under the symbol SMSMY, is the global metal recycling division of Sims Limited. Established in the early 20th century, the company has grown into one of the world’s leading recyclers of ferrous and non-ferrous metals. It serves a diverse customer base, including steel mills, foundries, manufacturers and fabricators, by collecting, processing and trading scrap metal commodities.

The company’s core activities encompass the sourcing and processing of end-of-life metal products.