Short Interest in Sims Metal Management Ltd. (OTCMKTS:SMSMY) Increases By 188.5%

Sims Metal Management Ltd. (OTCMKTS:SMSMY) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 2,273 shares, an increase of 188.5% from the February 26th total of 788 shares. Based on an average trading volume of 6,407 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.0% of the company’s stock are sold short.

Sims Metal Management Price Performance

SMSMY opened at $13.72 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.66 and a quick ratio of 1.13. Sims Metal Management has a 12 month low of $7.30 and a 12 month high of $16.95. The stock has a fifty day moving average price of $14.35 and a 200-day moving average price of $11.79.

Analyst Ratings Changes

A number of research analysts have commented on SMSMY shares. The Goldman Sachs Group raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada raised shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

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.