SSAB (OTCMKTS:SSAAY) Stock Passes Below 50-Day Moving Average – Time to Sell?

SSAB (OTCMKTS:SSAAY) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.22 and traded as low as $4.00. SSAB shares last traded at $4.00, with a volume of 1,141 shares.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

The company has a market capitalization of $7.97 billion, a PE ratio of 16.00 and a beta of 1.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48. The business has a fifty day moving average price of $4.21 and a 200 day moving average price of $3.74.

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