SSAB (OTCMKTS:SSAAY) Shares Gap Up – Here’s What Happened

SSAB (OTCMKTS:SSAAY)’s share price gapped up before the market opened on Friday. The stock had previously closed at $5.08, but opened at $5.3098. SSAB shares last traded at $5.3098, with a volume of 205 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a research report on Friday, September 4th. Morgan Stanley reiterated an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Dnb Carnegie lowered SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Finally, Citigroup reissued a “buy” rating on shares of SSAB in a research report on Tuesday, September 15th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, SSAB has a consensus rating of “Moderate Buy”.

SSAB Price Performance

The company has a quick ratio of 1.37, a current ratio of 2.43 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $5.39 and a 200-day simple moving average of $5.04. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 17.70 and a beta of 1.40.

SSAB (OTCMKTS:SSAAY) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $2.94 billion for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%. As a group, research analysts anticipate that SSAB will post 0.39 EPS for the current fiscal year.

SSAB Company Profile

SSAB AB is a Sweden-based steel company that develops and manufactures high-strength, specialty and conventional flat steel products. Its offerings include quenched and tempered steels, wear-resistant steels, automotive steels, structural steels and coated products used in construction, transportation, manufacturing, mining and other industrial applications.

The company markets products under brands including Hardox wear plate, Strenx performance steel, Docol automotive steel and GreenCoat color-coated products.