Sims Metal Management Ltd. (OTCMKTS:SMSMY) Sees Large Decrease in Short Interest

Sims Metal Management Ltd. (OTCMKTS:SMSMY) was the recipient of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 291 shares, a drop of 87.9% from the July 30th total of 2,399 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,401 shares, the short-interest ratio is currently 0.2 days.

Sims Metal Management Price Performance

SMSMY opened at $17.25 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.95. Sims Metal Management has a 12 month low of $8.16 and a 12 month high of $21.35. The stock has a fifty day moving average price of $18.11 and a 200-day moving average price of $16.39.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. Zacks Research upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold”.

Sims Metal Management Company Profile

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.