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

Sims Metal Management Ltd. (OTCMKTS:SMSMY) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 1,033 shares, a drop of 58.3% from the June 15th total of 2,477 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 5,178 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Zacks Research raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. Finally, Royal Bank Of Canada raised shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Sims Metal Management presently has an average rating of “Hold”.

Sims Metal Management Price Performance

Shares of SMSMY opened at $17.66 on Thursday. The firm has a fifty day moving average of $18.08 and a 200-day moving average of $15.37. Sims Metal Management has a 1 year low of $8.16 and a 1 year high of $21.35.

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.