SSAB (OTCMKTS:SSAAY) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

Shares of SSAB (OTCMKTS:SSAAY) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.05 and traded as high as $5.2650. SSAB shares last traded at $5.2650, with a volume of 1,260 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SSAAY. Morgan Stanley reissued an “overweight” rating on shares of SSAB in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research note on Tuesday, July 7th. Finally, Citigroup reiterated a “buy” rating on shares of SSAB in a research report on Monday, July 13th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

The company has a market capitalization of $10.49 billion, a price-to-earnings ratio of 17.55 and a beta of 1.43. The company has a 50 day moving average price of $5.05 and a 200 day moving average price of $4.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48.

SSAB (OTCMKTS:SSAAY) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $2.94 billion for the quarter. SSAB had a return on equity of 8.52% and a net margin of 5.73%. Equities research analysts predict that SSAB will post 0.4 earnings per share for the current fiscal year.

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.