SSAB (OTCMKTS:SSAAY) Short Interest Update

SSAB (OTCMKTS:SSAAY) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 1,003 shares, an increase of 7,064.3% from the April 30th total of 14 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 669 shares, the days-to-cover ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley upgraded SSAB from an “overweight” rating to an “overweight” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research report on Monday, April 13th. Finally, Citigroup restated a “buy” rating on shares of SSAB in a research report on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

SSAB Stock Up 5.5%

OTCMKTS:SSAAY opened at $5.08 on Thursday. The company has a market cap of $10.13 billion, a price-to-earnings ratio of 17.53 and a beta of 1.39. SSAB has a twelve month low of $2.80 and a twelve month high of $5.08. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $4.43 and a 200-day simple moving average of $4.12.

SSAB (OTCMKTS:SSAAY) last issued its earnings results on Tuesday, April 28th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter. The firm had revenue of $2.77 billion during the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. Analysts anticipate that SSAB will post 0.38 EPS for the current year.

About SSAB

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.