SSAB (OTCMKTS:SSAAY) Shares Gap Down – Should You Sell?

SSAB (OTCMKTS:SSAAY) gapped down prior to trading on Thursday . The stock had previously closed at $4.53, but opened at $4.25. SSAB shares last traded at $4.25, with a volume of 950 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SSAAY shares. Citigroup reiterated a “buy” rating on shares of SSAB in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research report on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

SSAB Price Performance

The stock has a fifty day simple moving average of $4.19 and a 200-day simple moving average of $3.59. The company has a market capitalization of $8.47 billion, a PE ratio of 17.00 and a beta of 1.33. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.76 billion. SSAB had a net margin of 5.10% and a return on equity of 7.29%. Equities analysts anticipate that SSAB will post 0.24 earnings per share 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.