SSAB (OTCMKTS:SSAAY) Shares Gap Up – What’s Next?

SSAB (OTCMKTS:SSAAY) shares gapped up prior to trading on Monday . The stock had previously closed at $3.45, but opened at $3.60. SSAB shares last traded at $3.60, with a volume of 100 shares traded.

Analysts Set New Price Targets

Separately, Danske upgraded shares of SSAB from a “hold” rating to a “buy” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

SSAB Trading Up 4.3%

The business’s 50-day moving average price is $3.27 and its two-hundred day moving average price is $3.10. The company has a market capitalization of $7.18 billion, a P/E ratio of 14.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.49.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.08 EPS for the quarter. The business had revenue of $2.41 billion for the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.45%. As a group, analysts forecast that SSAB will post 0.24 EPS for the current fiscal year.

About SSAB

SSAB AB (publ) produces and sells steel products in Sweden, Finland, Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and advanced high-strength steel products for steel and plate production.